80 ccd(1B)
This query is : Resolved
04 October 2020
Principal for home loan -90000
PPF-10000
LIC-50000
Employee deduction for NPS-60000
How much deduction can be claimed under 80c and 80CCCd(1B),
PPF-10000
LIC-50000
Employee deduction for NPS-60000
How much deduction can be claimed under 80c and 80CCCd(1B),
05 October 2020
You can claim INR 1,50,000.00 u/s 80C and INR 50,000.00 u/s 80CCD(1B), subject to the fulfilment of the conditions prescribed for claiming Premium Paid on life insurance policies.
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05 October 2020
question is wether additional Rs.50000 is required for claiming 80ccd(1B) or NPS deducted by employer can be considered under 80CCD(1B)
05 October 2020
There is no requirement of additional contribution. Since you have exhausted 80C limit, it is perfect tax planning to consider your contribution towards NPS u/s 80CCD(1B) subject to a maximum of INR 50,000.00.
That is why I have answered your question in a straight forward manner, but it seems that you misunderstood the answer. Now, I think your doubt will be resolved.
That is why I have answered your question in a straight forward manner, but it seems that you misunderstood the answer. Now, I think your doubt will be resolved.
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