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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?

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sabyasachi mukherjee (27413 Points)
Replied 11 August 2023

Qualification for additional deduction.

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Eswar Reddy S (CFO- at NHTF) (58265 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

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