Additional deduction under section 80CCD(1B)
C ANNBU PALANIAPPAN (8 Points)
10 August 2023
what is qualification for additional deduction under section 80CCD(1B) in income tax act?
2 Replies
Eswar Reddy S
(CFO- at NHTF)
(58270 Points)
Replied 11 August 2023
Eligibility criteria is : Pension scheme notified by Central Government
Section 80CCD(1B) specifically deals with contributions made by an individual (employee or self-employed) to pension schemes as notified by the central government. This section provides an additional deduction of Rs 50,000 over and above the 80C limit of Rs 1.5 lakh
Section 80CCD(1B) specifically deals with contributions made by an individual (employee or self-employed) to pension schemes as notified by the central government. This section provides an additional deduction of Rs 50,000 over and above the 80C limit of Rs 1.5 lakh
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