Widely read:
Should the tax benefits of APY be availed under Section 80CCD (1) or Section 80CCD (1B)? Can I claim them on contributions made in my wife's name, just like LIC premiums?
- Manoj Aryabhumi
Contributions to Atal Pension Yojana (APY) are eligible for the same tax benefits as the NPS. This means that the contributions can be claimed under Section 80CCD (1B). The current limit for Section 80CCD (1B) is Rs 50,000, over and above the Rs 1.5 lakh limit under Section 80C. Section 80 CCD (1) is a different one, meant to cover employers' contribution towards NPS.
You cannot get tax benefit by investing in the name of your spouse under Section 80 CCD.
This article was originally published on January 13, 2017.
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.
