I have invested ₹50,000 in eNPS. But when I downloaded the statement, it says it is exempted under Section 80C and it doesn't say anything about Section 80CCD. While making the investment, it never asked whether the investment should be made under Section 80C or 80CCD. Is there a different procedure for making eNPS contribution under 80CCD? I have already invested ₹1.5 in Public Provident Fund (PPF) and Life Insurance Corporation of India (LIC) to claim under Section 80C.
- Prakash Shenoy
Contributions to National Pension System (NPS) are covered under Section 80CCD of the Income Tax Act. Your own contributions are covered under Section 80CCD(1) and your employer's contributions are covered under Section 80CCD(2). The additional tax deduction of ₹50,000 on individual contributions are covered under Section 80CCD(1B). We believe you can claim an additional tax deduction of ₹50,000 on your contribution under Section 80CCD(1B) while filing Income Tax returns.
This article was originally published on February 05, 2016.
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
