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Can I claim tax deduction under Section 80CCD(2)

Your contribution to National Pension Scheme (NPS) is covered under Section 80CCD(1)


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This old article may have references to outdated tax rules and laws. For up-to-date information on taxation of mutual funds, refer to https://www.valueresearchonline.com/tax/

Can I claim a tax deduction on my National Pension Scheme (NPS) contribution under Section 80CCD(2)?
- Lalit Saini

You got the section wrong. Your contribution to National Pension Scheme (NPS) is covered under Section 80CCD(1). Your employer's contribution is covered under Section 80CCD(2). The extra deduction on NPS is covered under Section 80CCD(1B). You can claim a total deduction of R1.5 lakh under Section 80C, Section 80CCC, Section 80CCD(1) and R50,000 under Section 80CCD (1B). In short, you can claim a total deduction of R2 lakh under Section 80C and Section 80CCD.

This old article may have references to outdated tax rules and laws. For up-to-date information on taxation of mutual funds, refer to https://www.valueresearchonline.com/tax/

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