PF & ESI Simplified: Master the Basics & Compliance. Register Now!

Regarding under section 80CCD(1B)

RAJ PAL (AUDITOR) (33 Points)

19 December 2020

My savings under section 80C are 120000.00 and statuary contributions towards NPS ( 10% of Basic plus DA ) is 70000.00
My question is
Can i claim additional deduction of Rs 40000.00 under sanction 80CCD(1B)?

Reply
Follow
Share

4 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 19 December 2020

No, you cannot claim additionally.

Upgrade to CAclubindia Pro. Subscribe Now!

RAJ PAL (AUDITOR) (33 Points)
Replied 19 December 2020

Then how can i avail additional deduction of rs. 50000.00 under section 80CCD(1b) ?

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 19 December 2020

Sir if you are claiming ded u/s 80CCD(1), you cannot avail 80CCD(1B) for the same amount.

As per proviso to section 80CCD(1B)-Provided that no deduction under this sub-section shall be allowed in respect of the amount on which a deduction has been claimed and allowed under sub-section (1)

RAJ PAL (AUDITOR) (33 Points)
Replied 19 December 2020

Sir My own share to nps 70000.00. i just want to know can i claim 30000.00 in u/s 80CCD1 and remaining amount of rs 40000.00 in 80CCD(1b) ? As my total savings are rs 190000.00 .