Deduction under nps

This query is : Resolved

MD. MASFIQUAL HUSSAIN (Querist)
Follow

27 February 2018 1.I am a State Govt. employee & contributed Rs.74,000/- annually from my salary to the NPS account (Tire 1) i.e. 10% of salary (Basic + DA) for the FY 2017-18
2.My employer also contributed Rs.74,000/- annually to my NPS account (Tire 1) i.e. 10% of salary (Basic + DA) for the FY 2017-18
3.Now how much can I deduct U/S 80 CCD (1),80 CCD (2) & 80 CCD (1B) respectively for the FY 2017-18?

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
Follow

27 February 2018 You can claim your contribution of RS 74000 in 80CCD (1), Employer contribution of RS 74000 in 80CCD (2). Since the contribution is less than RS.1.50 lacs, deduction u/s 80CCD(1B) is not available

Message likes : 1 times