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Section 80CCD(1B) for employee of old pension scheme
I am employee of Central Govt of old pension scheme (joined central govt on 12/05/2000). I want to open NPS Account and to contribute 50000 P.A.. Deduction claimed by me u/s 80C is GPF, LIC, PLI and Principal of Housing Loan paid by me is 150000 or more. Will I be eligible for claiming deduction u/s 80CCD(1B) of RS.50000 after contribution.
Replies (2)
Yes, you can get the additional Rs. 50,000 investment benefit u/s. 80CCD(1B); specifically if same not claimed under the old pension scheme.
Agree with Mr. Dhiraj reply .you can claim 80ccd(1b) subject to a maximum of 50000 and the same amount shouldn't be claimed as deduction under 80ccd(1)
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