Regarding getting additional deduction of Rs 50000 above the limit of Rs 1.5 lakh for NPS employee

Section 80CCD(1B) clearly states that irrespective of any deduction allowed in sub section 1 an assessee can claim deduction of upto 50000 under sub section (1B) so I guess you can easily claim additional deduction of 50000 under sub section 1B. If your account office doesn't give you claim you yourself can claim it while filing return of income I don't think there will be an issue.

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Thank you

Dear Sir,

Hope you are doing well !

An employee can claim overall deduction of Rs. 2,00,000/- (i.e. Rs. 1,50,000/- u/s 80 C/80CCC/80CCD(1) and Rs. 50,000/- u/s 80 80CCD(1B))

You can invest 1.5 lacs in any 80C schemes and invest 50000/- in NPS to get tax benefit under 80CCD(1B).

Thanks & Regards,

Payal Chhajed

There is no need of signed copy for the same.

Just refer the relevant section.

Hi,

Your contribution to NPS can be claimed under Section 80CCD(1b) as well as Section 80C. So If you have can use other investments to claim 1.5 lakh deduction under 80C then you can claim your NPS contribution first under 80CCD(1b) for 50,000 then remaining along with other investments under 80C for 1.5 lakh. So the total deduction you can claim is 2 lakh.

We can share with you pdf version of section.

Hi,

- Deduction of section 80CCD(1B) is over and above the deduction of section 80C. You are eligible for deduction u/s 80CCD(1B).

Thanks

yes, from AY 2016-17 additional deduction of RS 50,000 is permissible under sec 80CCD(1B). It is preferable to make this payments separately and not through employer as there is a restriction that once claimed under 80C no further deduction be allowed.

Hi,

You are eligible for deduction u/s 80CCD(1B) which is over and above the deduction of section 80C.

Regards,

Nikhil.

The section is self explanatory and you do not need any pdf to support the claim. If your office does not allow the same, you can claim the deduction when you file your return.

Regards,

Nikhil