Ask Value Research

Can I claim tax deduction under Section 80CCD(2)

Your contribution to National Pension Scheme (NPS) is covered under Section 80CCD(1)

Can I claim a tax deduction on my National Pension Scheme (NPS) contribution under Section 80CCD(2)?
- Lalit Saini

You got the section wrong. Your contribution to National Pension Scheme (NPS) is covered under Section 80CCD(1). Your employer's contribution is covered under Section 80CCD(2). The extra deduction on NPS is covered under Section 80CCD(1B). You can claim a total deduction of ₹1.5 lakh under Section 80C, Section 80CCC, Section 80CCD(1) and ₹50,000 under Section 80CCD (1B). In short, you can claim a total deduction of ₹2 lakh under Section 80C and Section 80CCD.

This article was originally published on January 28, 2016.

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