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Will my investments in NPS qualify for tax rebate under Section 80CCD

My 80c limit is exhausted with investment over 1.5 Lakhs, I am doing additional investment in NPS on my own (personal). Can it be qualified for 80 CCD 1 (B) or does I require anything to get my NPS investment qualify for 80 CCD 1(B)?

Oct 14, 2016 by Ankit, Pimpri  |   Taxation

Your investment in NPS will qualify for tax rebate under section 80CCD (1B) upto an amount of Rs. 50,000. This rebate of Rs. 50,000 under section 80CCD is over and above the limit of Rs. 150,000 for Section 80C.

To claim the above rebate you need to provide the details while filing your tax returns.

Therefore, now the total deduction that can be claimed by an individual is Rs. 200,000 - Rs. 150,000 under Section 80C and Rs. 50,000 under Section 80CCD.

Thanks

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