Income tax deduction

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  1. Kabul das

    Kabul das New Member

    Sir
    I am working in bsnl.I have savings rs 1.5 lac under 80c for the financial year 15-16. On 30 th march 2016 I have opened tier 1 NPS scheme in NPS trust and deposited rs 50000/_ on 31/03/2016. My question is whether I shall get additional tax deduction of rs 50000/- in addition to 1.5 lac under 80 c.If yes,under which section this deduction will be consider ( 80 CCD(1 b). Pl clarify my doubt .
     
  2. Shyam kedia

    Shyam kedia New Member

    Dear sir, According to Income tax act maximum deduction under section 80C is only 150000 in any case.
     
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