A taxpayer has received a NCIS Acknowledgement Date 26/03/2021 from POP for Rs. 50,000/-. However the NPS official website shows the funds have been credited on 05/04/2021 under his PRAN. Under the circumstances is he eligible for NPS deduction under 80CCD(1B) for FY 20 - 21?
As the tax payer made the contribution with the intention of keeping his total income after all deductions (including NPS) below Rs. 5 lakhs, the question arises as otherwise he will need to pay the necessary tax, cess and interest. Please guide.
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