dear sir
please clarify 80ccd (1b)
Income tax laws allow tax deduction for contributions to NPS under three sections.
First, the employee’s contribution under Section 80CCD(1). This deduction is under the overall Rs 1.5 lakh limit under Section 80C.
Second, up to 10% of the basic salary put into the NPS by the company on behalf of the employee is deductible without any limit.
The third is the Section 80CCD(1B) under which a taxpayer can claim deduction for voluntary contribution of up to Rs 50,000.
Read more at : nps-tax-benefits-sections-80ccd1-80ccd2-and-80ccd1b
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