Sir/Mam,
I received rs 199485 in my NPS acount in FY 2017-18 as an arrear of goverment contributions of previous years.may i take benefit of exemption of whole amount along with the government contribution of current FY u/s 80ccd(2).
Your contribution to National Pension Scheme (NPS) is covered under Section 80CCD(1), (subject to 10% of your salary)
Your employer's contribution is covered under Section 80CCD(2). (Again subject to 10% of your salary)
The extra deduction on NPS is covered under Section 80CCD(1B).
You can claim a total deduction of Rs1.5 lakh under Section 80C, or Section 80CCD(1) and Rs. 50,000 under Section 80CCD (1B).
Thus you can claim a total deduction of Rs 2 lakh under Section 80C / 80CCD(1) and Section 80CCD(1b)
And total exemption u/s. 80CCD(2) cannot exceed 10% of your basic+DA.
CAclubindia
