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Claiming extra deduction under Section 80CCD(1B)

You can claim a total deduction of Rs 2 lakh together under Section 80C and Section 80CCD this financial year

I am a central government employee, Due to some arrears, my National Pension System (NPS) contribution is ₹2.1 lakh this financial year. My account department did not consider the additional ₹50,000 tax deduction under 80CCD(1B). Can I claim refund of this amount while filling my income tax returns?
- Atul Sachan

You can claim a total deduction of ₹2 lakh together under Section 80C and Section 80CCD this financial year. Since you have already made a contribution of ₹2.1 lakh to National Pension Scheme (NPS), you can claim a total deduction of ₹2 lakh, including ₹50,000 under Section 80CCD(1B).

This article was originally published on February 01, 2016.

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