Ask Value Research

Additional tax deduction of Rs 50,000

Your contributions to National Pension System (NPS) qualify for additional tax deduction of Rs 50,000 under Section 80CCD(1B)

Research Desk

My employer has refused to contribute for the additional tax deduction of ₹50,000 available under Section 80CCD(1B). He said I need to invest outside. Can you please tell me where to invest for getting this additional benefit?
- Puneet Swaroop

Your contributions to National Pension System (NPS) qualify for additional tax deduction of ₹50,000 under Section 80CCD(1B). However, your employer will not contribute for this. You have to make voluntary contributions to NPS if you want to claim this additional tax deduction.

This article was originally published on February 05, 2016.

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