Categories
Pagination Scroll
Mohsin Razaq

80CCD(1) - Employee contribution towards NPS...
If one has already used the 150000 limit under PPF category can the contribution by employee be entered under 80CCD(1B) instead of 80CCD(1) and claim additional tax relief to the tune of Rs 5000 on 50000 amount claimed under NPS contribution of employee.
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
yes, as per my interpretation , one surely can use 80 CCD(1B) for ones own contribution( employee contribution)...it is totally to the choice of the individual whether to use 80 C or 80 CCD(1B)
  • August 17, 2018
  • ·
  • Like
  • ·
  • Select as Answer
PARTHA SARATHI MAJEE
Yes absolutely right one of my friend already got the refund by claiming in same circuimstance
  • August 17, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Pankaj lande

80CCD(1) - Employee contribution towards NPS...
sir thanx for ur reply i have one doubt that i have created my nps account after april 2018..till then i was having no pran no. ..so when i checked my nps acc statement it showed 0 contributions upto march 18 and all the contribution i have made from march 17 to april 18 was shown for the month of ...
  • Show Placeholder
  • Hide Discussion
Amlan Dutta
It all depends on assessing officer whether he is willing to consider .....Typically NPS account should show contribution during the year and not after year ends in order to be eligible for the benefit..if i were the assessing officer , i would not consider the contribution
  • July 23, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Pankaj lande

80CCD(1) - Employee contribution towards NPS...
Sir i am a salaried employee working from last year..my nps account was created after march 2018. My form 16 for this year doesnt show any nps contribution made by me from july 2017 to march 2018 nor my nps acc statement taken from nsdl website. Still can i claim the deductions under 80 ccd in my it...
  • Show Placeholder
  • Hide Discussion
AYUSH
Yes you can claim deduction of 80ccd for 1 apr 2017 to 31 march 2018 deposits. In your return No issues prevails of non disclosure in form 16
  • July 14, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Amlan Dutta
Form 16 not showing is okay ...it reflects that you have not declared there ...but why is the NPS account statement not reflecting your contribution ... you will need these to justify claiming of NPS benefit under 80 CCD(1B) ...i hope you have invested in tier 2 ( which is by default the NPS invest...
  • July 14, 2018
  • ·
  • Like
  • ·
  • Select as Answer
FATEH CHAND CHOUHAN

80CCD(1) - Employee contribution towards NPS...
मेरी 2018-19 AY की Gross salary 866437 है
NPS कटौती कुल 94730 है
System calculated में 80CCD(1)&(2) में 86644 ही आ रही है।
  • Show Placeholder
  • Hide Discussion
AYUSH
Hello fateh Employee’s contribution – Section 80CCD (1) is allowed to an individual who makes deposits to his/her pension account. Maximum deduction allowed is 10% of salary (in case the taxpayer is an employee) or 20% of gross total income (in case the taxpayer being self-employed) or Rs 1, 50,000,...
  • July 13, 2018
  • ·
  • Like
  • ·
  • Select as Answer
Amlan Dutta
Yes, true for salaried employees, under 80 CCD(1) maximum deduction allowed is:
up to 10% of salary for salaried employee

But 80 CCD(1B) provides additional deduction of Rs. 50,000 for contribution made by an assessee under NPS. Put balance there .....

Note: The maximum deduction as an aggregate of sec...
  • July 13, 2018
  • ·
  • Like
  • ·
  • Select as Answer