How to claim additional deduction under Section 80CCD(1B)?

I am a central government employee with a Tier I PRAN account under National Pension Scheme (NPS). I have made an additional contribution of ₹20,000 under Section 80CCD(1B) on 31.03.2016. This deduction has not been shown to my employer. How do I claim tax deduction while filing returns?
- Abhijit Sen

While fling the income tax returns, you just have to mention that you have made an investment of ₹20,000 under section 80CCD(1B) and claim a tax deduction on it. Taxpayers can claim an exclusive tax deduction of up to ₹50,000 on contributions to NPS under Section 80CCD(1B) of the Income Tax Act.This is above ₹1.5 lakh permitted under Section 80C of the Income Tax Act.

This article was originally published on April 01, 2016.