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

Taxpayers can claim an exclusive tax deduction of up to Rs 50,000 on contributions to NPS under Section 80CCD(1B) of the Income Tax Act

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.

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