All Questions -> 80CCD(1B) - Employee contribution NPS. -> All Types
You seem to be using an older version of Internet Explorer. This site requires Internet Explorer 8 or higher. Update your browser here today to fully enjoy all the marvels of this site.
Pagination
Scroll
Feedback
Filing return of earlier previous years
Section 119(2)(b) Delayed filing
Section 92 CD Advance Pricing agreement
General
INCOME TAX
ASSESSMENT PROCESS
Processing of returns
E verification
E verify using AADHAR OTP
E verify using Netbanking
How to change AO Jurisdiction
Time period for processing
BASICS OF INCOME TAX
Assessment year
Clarification over income head
Previous year
Residential status
Selection of Return
Return for Salary, Interest
Tax Computation
Who is required to file
Clubbing of income
Common Issues
Difference in salary figures in form 16 and 26 as
Documents to be attached
How to file return of earlier years
How to show investments not considered in form 16
Send acknowledgement after 120 days
Common Mistakes
Not taken credit of paid taxes
Deceased Filing
How to file return for deceased assesse
How to register as legal heir
Deductions
DEDUCTIONS UNDER SECTION 80
80 C Deduction- Life insurance premium, deferred annuity,.contributions to providend fund, etc
80 CCC- Payment in respect of Pension Fund etc
Deduction benefit of NPS
80CCD(2) - Employer contribution towards NPS
Employee contribution towards NPS
80CCD(1) - Employee contribution towards NPS
Taxation of Sukanya Samridhi scheme
80CCD(1B) - Employee contribution NPS.
80CCG - Investment made under an equity savings scheme
80D - Health Insurance premium
80DD - Expenditure towards medical treatment of dependant
80DD - Dependent person with disability
80DD - Dependent person with severe disability
80DDB - Medical Treatment of specified disease
80 DDB - Senior citizen - Self or dependent
80 DDB - Super Senior citizen - Self or dependent
80DDB - Self or dependent
80E - Interest on loan taken for higher education
80EE - Interest on loan taken for residential House property
80EE Eligibility
80G - (Eligible Amount)- Donations to certain funds, charitable institutions, etc
80GG - Rent Paid
80GG Eligibility
80GGA - Certain donations for scintific research or rural development
80GGC - - Donation to political party.
80QQB - Royalty income of authors of certain books
80RRB - Royalty on patents
80TTA - Income from interest on saving banks Accounts
80TTB - Income on deposits for senior citizens
80U - In case of a person with Disability
80U - Self with disability
80U - Self with severe disability
Defective Returns
How to respond to Defective Notice
e Grievance ( e Nivaran)
Delay in processing of returns
Disallowance of Tax credit in 26 AS.
e Proceedings
Exempt Income
Exempt Earned leave at Retirement
Exempt gift income u/s 56(2)(iv)
Exempt Gratuity Income u/s 10
Exempt HRA U/s 10(13A)
Exempt LIC moneyback u/s 10(10 D)
Exempt LTCG u/s 10(38)
Exempt PF interest
Exempt Recognised PF interest u/s 10 (12)
Exempt Statutory PF interest u/s 10 (11)
Exempt Transport allowance u/s10(14)
Exempt ULIP maturity U/s 10(10 D)
FILING AY 2018 19
Filing Issues
HOW TO FILE RETURNS
Belated return
Time period for belated return
Due return U/s 139(1)
Nil Return
Refund Return
Refund for Bank deducted TDS
Refund for LIC Commission
Refund for TDS on professionals
INCOME HEAD - BUSINESS PROFESSION
Disallowances for Business Profession
Permissible expenses for Business
Presumptive taxation
44 AD ( Business income)
Preparing Balance sheet
44ADA ( Profession)
How to fill financial particulars of Business/Profession
Profession
Filing return for LIC agent
INCOME HEAD - OTHER SOURCES
Taxability for winnings on lottery
INCOME SCHEDULE - CAPITAL GAINS
Capital Gains exemption
LTCG Exemption u/s 54
LTCG Exemption u/s 54 EC
Mutual Funds
Debt Mutual Funds
Equity Mutual Funds
Sale of House property
Stocks (delivery)
LTCG on stocks
STCG on Stocks
INCOME SCHEDULE - HOUSE PROPERTY
Deduction benefit for House property
Deduction benefit for let out property
Home Loan interest under 24(b)
Standard deduction of 30% of NAV
Deduction benefit for self occupied house property
Home loan interest under 24(b)
Difference in deduction benefit of 24(b) and 80 EE
Home loan interest benefit under 80 EE
How to compute income from house property
Deemed let out property
Income from commercial shop
Income from let out property
Income from Self occupied property
Partially occupied , partially let out property
Property let out partially for the year
Tax benefit for prepossession loan repayment
How to claim loan benefit during construction(Section 80 EE)
INCOME SCHEDULE - SALARY
Deduction U/s 16
Entertainment Allowance
Standard deduction of 40000 u/s 16(ii)
Tax on Employment
Taxability of Gratuity
Computation of Gratuity
Gratuity during service
Gratuity on resignation
Gratuity on retirement
Late Filing after belated period also over
Notices
Communication of proposed adjustment u/s 143(1)(a)(vi)
Difference in salary income in return and 26 as
Inconsistency between other source income in filed return and 26 as
Agree to demand for communication for proposed adjustment
Revision after agreeing to proposed adjustment
Disagree to demand for communication of proposed income
Compliance notice for Non Filing of Returns
Income above threshold level
Income below threshold level
Demand under section 143(1)a
Intimation Notice under 143(1)a
Reassessment Notice under section 148
NRI Taxation
Double Tax Avoidance Agreement
DTAA ( Tax credit method)
DTAA India Australia
DTAA (Credit by Deduction)
DTAA INDIA USA
Tax implication for NRI while buying property
PENALTY
Penalty under section 234 F
Penalty under section 271 F
Rebate and Relief
Arrear Relief under section 89
Form 10 E not submitted online
How to correct form 10 E
How to fill form 10 E
Rebate under section 87 A
RETURN FILING
Employer category
How to convert return to xml for uploading
ITR 1
Exempt HRA when not shown in Form 16
How to fill nature of income in ITR1 (exempt)
How to show Gift from relative in return(U/s 56(2)
TAXABILITY OF SALARY ALLOWANCES
Border Area allowance U/s 10(14)(ii)
Child Education Allowance U/s 10(14)(ii)
Daily allowance U/s 10(14)
Helper/Assistance Allowance U/s 10(14)
Hostel Expenditure Allowance U/s 10(14)
HRA Allowance U/s 10 (13A)
Research Allowance U/s 10(14)
Taxability of Earned Leave Encashment
Transfer Allowance U/s 10(14)
Transport allowance u/s 10(14)(ii)
Uniform allowance U/s 10(14)(i)
Washing allowance U/s 10(14)(i)
How to fill Salary breakup in ITR 1
How to fill salary income in TDS schedule
How to show employer NPS in return
How to show HRA in ITR 1
Salary (ITR 1)
How to show Bonus in return
How to show salary arrears in return
How to show salary income from Multiple companies
Multiple form 16
ITR 2
How to take Interest TDS credit in ITR 2
ITR 3
ITR 4
ITR 5 (Firms)
ITR 6 (Companies)
Salary mismatch in form 16 and 26 as
TDS mismatch in Form 16 and 26 AS
Return signing capacity
REVISION AND RECTIFICATION
Rectification
Rectification - Tax credit mismatch
Rectification - Taxpayer wanting to correct data
Rectification u/s 154
Return processed but revision needed
Revised Return U/s 139(5)
Time period for filing revised returns
TAX COMPUTATION
TAX CREDIT
Schedule IT (Taking credit of taxes paid)
ADVANCE TAX
Cases when advance tax exempt
Computation of advance tax
How to fill in challan details for advance tax
How to pay advance tax
Penalties for non payment of advance tax
Self assessment tax
How to fill in challan details for self assessment tax
Status of Booking in 26as
TCS
TDS
Property TDS( U/s 194 IA)
Salary TDS (u/s 192)
TDS Credit
26 AS TDS not prefilling ITR
Deducted TDS not appearing in form 26 as
HOW TO MAKE TAX PAYMENT
How to pay advance tax
How to pay demand tax
How to pay self assessment tax
TDS on income other than salary
Consultancy TDS U/s 194 J (10%)
Contract TDS u/s 194 C (1%)
Interest TDS (U/s 194 A) (10%)
TDS ON NRI PURCHASE
TDS Return filing
Tax site related issues
How to download returns after filing
How to download tax returns
TAXATION OF AOP
TAXATION OF RESIDENTIAL WELFARE ASSOCIATION
TAXATION OF DIFFERENT INSTRUMENTS
Taxability of Family pension( U/s 57)
Taxability of Futures and Options
Taxability of Interest Income
Taxation of Fixed deposit
Taxability of Life insurance plans
Taxability of Endowment Plans
LIC Jeevan Anand Endowment plan
Taxability of ULIP
SBI Wealth Builder ULIP Plan
Taxability on surrendering of Life insurance
Surrendering of ULIP plans
Taxability of lottery winnings (U/s 115BB)
Taxability of pension
Taxability of Providend Fund
Taxability of PF - Withdrawal before 5 years
Taxability of PF - withdrawing after 5years
Taxation of Bitcoin /Cryptocurrencies
Taxation of Mutual Funds
Taxation of SIP
Taxation of NSC
Taxation of Post office interest
TRANSFER PRICING
UTILITY FILING ISSUES
JAVA utility not getting saved
Salary in income schedule less than 90% of salary income in TDS schedule
Unclaimed TDS bought forward and current year TDS separate rows
I am a govt offcial.
I want some clarification on section 80ccd (1) (b) of income tax act.
I wish to know:
1. I have invested Rs. 1.20 lakhs approx under section 80c and have also invested Rs. 63518 in NPS. Can I claim tax rebate of my deposited amount in NPS under Sec. 80 ccd (1) (b). If yes...
I am a govt offcial.
I want some clarification on section 80ccd (1) (b) of income tax act.
I wish to know:
1. I have invested Rs. 1.20 lakhs approx under section 80c and have also invested Rs. 63518 in NPS. Can I claim tax rebate of my deposited amount in NPS under Sec. 80 ccd (1) (b). If yes and then how.
Though the Form 16 given by my employer does not show section 80ccd (1) (b) in it. My employer has added all my investments under 80c. Pic attached.
2. My second question is if suppose, i have invested Rs. 1.40 lakhs in 80c then can i divide my Rs. 63518 of NPS amount between 80ccd(1) and 80ccd (1) (b).
Yes, you can and by simply putting it under section 80 CCD(1B) ...put 50,000 here since you cannot put more than 50,000 here and balance 13518 i.e 63518 - 50000 =13518 can be used in 80 C ...since you already have 1.4 lakhs credit in 80 C so , you can use 10,000 from excess investment in NPS in 80 C...
Yes, you can and by simply putting it under section 80 CCD(1B) ...put 50,000 here since you cannot put more than 50,000 here and balance 13518 i.e 63518 - 50000 =13518 can be used in 80 C ...since you already have 1.4 lakhs credit in 80 C so , you can use 10,000 from excess investment in NPS in 80 C ...simply put 1.5 l;akhs in 80 C and 50000 in 80 CCD(1B)
80ccd1b is not shown in my form 16. My employer include the NPS amount as part of 80c as u see the attached file of my post.
If i divide nps amount between 80ccd1 and 80ccd1b as u suggested and i get notice from income tax depament. Then what my proof of 80ccd1b. My form 16 does not indicates it.
Your proof shall be your NPS account statement ...not just NPS , for any deduction benefit , assesse has investment receipts ...be it life insurance (80c), medical insurance (80DF), donation (80 G)...etc ...every case what is the proof , the receipts etc which can be used to show the eligible invest...
Your proof shall be your NPS account statement ...not just NPS , for any deduction benefit , assesse has investment receipts ...be it life insurance (80c), medical insurance (80DF), donation (80 G)...etc ...every case what is the proof , the receipts etc which can be used to show the eligible investment ...likewise here too the NPS statement is proof enough of the assessee having invested ....
Yes, you can and by simply putting it under section 80 CCD(1B) ...put 50,000 here since you cannot put more than 50,000 here and balance 13518 i.e 63518 - 50000 =13518 can be used in 80 C ...since you already have 1.4 lakhs credit in 80 C so , you can use 10,000 from excess investment in NPS in 80 C...
Yes, you can and by simply putting it under section 80 CCD(1B) ...put 50,000 here since you cannot put more than 50,000 here and balance 13518 i.e 63518 - 50000 =13518 can be used in 80 C ...since you already have 1.4 lakhs credit in 80 C so , you can use 10,000 from excess investment in NPS in 80 C ...simply put 1.5 l;akhs in 80 C and 50000 in 80 CCD(1B)
Dear Amlan
As you can see in my form 16, my employer shows the employee contribution towards NPS u/s 80 CCD (1). Hence, I am not getting the full benefit of deduction. After watching your recent video and reading your answers related to NPS in makeknowledgfree platform, I came to know that we could ...
Dear Amlan
As you can see in my form 16, my employer shows the employee contribution towards NPS u/s 80 CCD (1). Hence, I am not getting the full benefit of deduction. After watching your recent video and reading your answers related to NPS in makeknowledgfree platform, I came to know that we could split the amount and show it at the time of filling return online. Now if I split the contribution between 80 CCD (1B) and 80 CCD (1). May be due to which I get the proposal of adjustment notice. Please consider as lack of knowledge or idea, I want to ask you how to defend my position in that case. Because my employer shows entire amount u/s 80 CCD (1) in Form 16 and since my employer deduct the amount directly from my salary so I have no receipt except my salary slip.
Please excuse for my lack of concept and choosing the wrong category as well.
You may surely claim employee contribution NPS benefit under 80 CCD(1B)...I beleive that you had not made it clear during savings declaration to consider your contribution towards 80 CCD(1B) and hence by default employer has considered for 80 C deduction ...You can at time of return filing , as you ...
You may surely claim employee contribution NPS benefit under 80 CCD(1B)...I beleive that you had not made it clear during savings declaration to consider your contribution towards 80 CCD(1B) and hence by default employer has considered for 80 C deduction ...You can at time of return filing , as you already understand claim it under 80 CCD(1B)..even if you get assessment notice for proposal for mismatch , you can justify your addition towards 80 CCD(1B) since it is totally justified
Dear Amlan, thank you for your kind response. Actualy amlan there are no such fill for 80 ccd (1), 80 ccd (1b) in our declaration form. By default my employer showes it u/s 80 ccd (1) as you have seen my form 16. I try to understand the concept about how to justify from your video. If i am stuck som...
Dear Amlan, thank you for your kind response. Actualy amlan there are no such fill for 80 ccd (1), 80 ccd (1b) in our declaration form. By default my employer showes it u/s 80 ccd (1) as you have seen my form 16. I try to understand the concept about how to justify from your video. If i am stuck somewhere , i will come back to you again. Thanks again Amlan.
No worries, you can still show at the time of return filing your contribution towards NPS under 80 CCD(1B) if you have already reached 80 C limit with other investments to maximize savings ...just to be doubly sure, you can still take a second opinion
No chance amlan. I dont want to take 2nd opinion. Actually i read many articles regarding u/s 80 ccd (1b) n 80 ccd (1) over net. But no where i found clear concept /explain like you have mention in your video as well answers. Even i write to one of our officer(finance). But i am not clear from his a...
No chance amlan. I dont want to take 2nd opinion. Actually i read many articles regarding u/s 80 ccd (1b) n 80 ccd (1) over net. But no where i found clear concept /explain like you have mention in your video as well answers. Even i write to one of our officer(finance). But i am not clear from his answer too. According to him, if i invest additional amount towards NPS then i take the benift of 80 ccd(1b) in this additional amount. From my sense i belive in your concept. Thanks for your effort.
Lol, i dont agree with the finance officer's opinion ...i believe that you surely can claim benefit of your investement under 80 CCD(1B) at the time of filing return ...yes, you may /mostly shall get a proposal for adjustment notice citing difference in form 16 and filed return against this 80 CCD(1...
Lol, i dont agree with the finance officer's opinion ...i believe that you surely can claim benefit of your investement under 80 CCD(1B) at the time of filing return ...yes, you may /mostly shall get a proposal for adjustment notice citing difference in form 16 and filed return against this 80 CCD(1B) but department will surely agree to your justification (during eassessment ) of the benefit taken under 80 CCD(1B) ...Please do understand that i am also a simple ordinary guy having limited knowledge and therefore please don't take my answers at rock value ...i am laso human and may make errors ...i was not knowing that GST registration doen't apply on stocks ...i also make my fair share of mistakes , hemen and i do try to learn ...thanks for your support
Yes, Amlan I agree with you. It is natural to do mistake. And it is your greatness that you directly speak about it. Not showing off like others. I am believe because you try to make tax easy and giving us a lot of your valuable time. Since you are from engineering background, you have job, family,...
Yes, Amlan I agree with you. It is natural to do mistake. And it is your greatness that you directly speak about it. Not showing off like others. I am believe because you try to make tax easy and giving us a lot of your valuable time. Since you are from engineering background, you have job, family, it is not so easy. Whatever we have learned and whatever I am encourage doing in case of filling online return, only because of you. It is the fact. Two or three days ago when I have visited one of the website, suddenly I noticed a “advertise” where they clearly mention that if you get notice then you can contact us, our tax expert solve it with a nominal fee between 3000 to 5000. Anyways, still a long way have to go, keep learning and we will keep learning from you. Thanks Amlan.
You may surely claim employee contribution NPS benefit under 80 CCD(1B)...I beleive that you had not made it clear during savings declaration to consider your contribution towards 80 CCD(1B) and hence by default employer has considered for 80 C deduction ...You can at time of return filing , as you ...
You may surely claim employee contribution NPS benefit under 80 CCD(1B)...I beleive that you had not made it clear during savings declaration to consider your contribution towards 80 CCD(1B) and hence by default employer has considered for 80 C deduction ...You can at time of return filing , as you already understand claim it under 80 CCD(1B)..even if you get assessment notice for proposal for mismatch , you can justify your addition towards 80 CCD(1B) since it is totally justified
Hi Amlan, I have watched your Youtube video on NPS contribution. I have a question on it. I am not working since last 2 years. Still I had invested 50000 Rs in my NPS Account (Tier-1) on my own. Can I claim tax benefit for this against 80 CCD(1B) while filing ITR, even though I am not employee any m...
Hi Amlan, I have watched your Youtube video on NPS contribution. I have a question on it. I am not working since last 2 years. Still I had invested 50000 Rs in my NPS Account (Tier-1) on my own. Can I claim tax benefit for this against 80 CCD(1B) while filing ITR, even though I am not employee any more? I am asking this doubt since the header text says "80CCD (1B) - Contribution to pension scheme of Central Government by Employee". Please answer this query. Thank You.
NPS deduction benefit under 80CCD(1B) is irrespective of the type of employment. So, a government employee, a private sector employee, self employed or an ordinary citizen can claim benefit of Rs 50,000 under Section 80CCD(1B). So, in your case, you surely can( You may consider a second opinion)...
NPS deduction benefit under 80CCD(1B) is irrespective of the type of employment. So, a government employee, a private sector employee, self employed or an ordinary citizen can claim benefit of Rs 50,000 under Section 80CCD(1B). So, in your case, you surely can( You may consider a second opinion)...
But, i guess this addition of NPS investment in 80CCD(1B) over and above 80 C shall be useful to you only if your 80 C saving limits of 1.5 lakhs are already reached by your other eligible investments .......
NPS deduction benefit under 80CCD(1B) is irrespective of the type of employment. So, a government employee, a private sector employee, self employed or an ordinary citizen can claim benefit of Rs 50,000 under Section 80CCD(1B). So, in your case, you surely can( You may consider a second opinion)...
NPS deduction benefit under 80CCD(1B) is irrespective of the type of employment. So, a government employee, a private sector employee, self employed or an ordinary citizen can claim benefit of Rs 50,000 under Section 80CCD(1B). So, in your case, you surely can( You may consider a second opinion)...
But, i guess this addition of NPS investment in 80CCD(1B) over and above 80 C shall be useful to you only if your 80 C saving limits of 1.5 lakhs are already reached by your other eligible investments .......
Also, next time, please be careful to select question category properly to avoid your entry getting deleted from my website I will also not be answering any further questions which are without proper category selections
i am govt servant in my form 16 my total deduction amount including nps 192235. i forgot to fill tution fees detail rs 22500. i have receipt of tution fees also. but i thought in 80c rule only 150000 deduction require. my nps deduction is rs 94000 and in form 16 my income tax calculation according to ...
i am govt servant in my form 16 my total deduction amount including nps 192235. i forgot to fill tution fees detail rs 22500. i have receipt of tution fees also. but i thought in 80c rule only 150000 deduction require. my nps deduction is rs 94000 and in form 16 my income tax calculation according to 80c deduction. so i did not show 50000 rs in nps seprately in form 16 previously i dont know about 50000 extra benifit in nps under 80ccd (1b) now my questions are during filling of itr of fy18-19 1. can i add tution fees in 80c deduction 2. can i use my nps deduction in seprate benifit of 80ccd(1b)
very confuse in this matter..some say.. ur itr is same as u fill in form 16...otherwise you will get notice from income tax dept. plz guide me
1. can i add tution fees in 80c deduction Yes, you can claim as per section 80 C eligibility for tution fees 2. can i use my nps deduction in seprate benifit of 80ccd(1b) ...
1. can i add tution fees in 80c deduction Yes, you can claim as per section 80 C eligibility for tution fees 2. can i use my nps deduction in seprate benifit of 80ccd(1b) Yes, you can .....you may get a notice but you will have to respond accordingly , department will accept your proposition ...one is allowed to claim at actuals no matter figures stay same in form 16 or not
1. can i add tution fees in 80c deduction Yes, you can claim as per section 80 C eligibility for tution fees 2. can i use my nps deduction in seprate benifit of 80ccd(1b) ...
1. can i add tution fees in 80c deduction Yes, you can claim as per section 80 C eligibility for tution fees 2. can i use my nps deduction in seprate benifit of 80ccd(1b) Yes, you can .....you may get a notice but you will have to respond accordingly , department will accept your proposition ...one is allowed to claim at actuals no matter figures stay same in form 16 or not
What to do when my employer didn't show deduction u/s 80ccd(1b) and he show entire amount u/s 80cccd. And I have already made investment of Rs 150,000 u/s 80c excluding Nps(my contribution).Can I claim deduction u/s 80ccd(1b). In future after return filing I can also receive notice u/s 143(1a) for m...
What to do when my employer didn't show deduction u/s 80ccd(1b) and he show entire amount u/s 80cccd. And I have already made investment of Rs 150,000 u/s 80c excluding Nps(my contribution).Can I claim deduction u/s 80ccd(1b). In future after return filing I can also receive notice u/s 143(1a) for mismatch of deductions
You surely can claim NPS investment under 80 CCD (1B)...actually this is a perfect case where you must. Well , you may get a communication for proposal of adjustment but you can always reply and defend your position which will be accepted since you are claiming in accordance with provisions of the a...
You surely can claim NPS investment under 80 CCD (1B)...actually this is a perfect case where you must. Well , you may get a communication for proposal of adjustment but you can always reply and defend your position which will be accepted since you are claiming in accordance with provisions of the act, not as per day dreaming or otherwise!
You surely can claim NPS investment under 80 CCD (1B)...actually this is a perfect case where you must. Well , you may get a communication for proposal of adjustment but you can always reply and defend your position which will be accepted since you are claiming in accordance with provisions of the a...
You surely can claim NPS investment under 80 CCD (1B)...actually this is a perfect case where you must. Well , you may get a communication for proposal of adjustment but you can always reply and defend your position which will be accepted since you are claiming in accordance with provisions of the act, not as per day dreaming or otherwise!
