Is NPS Deduction allowed for Central Govt Employee?

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  1. Alok Nigam

    Alok Nigam New Member

    I am a central govt. employee. I have deposited 1,50,000 in PPF and my NPS contribution is 57,340. Please guide me that how much amount I can claim in 80 C, 80 CCD(1), 80 CCD(1B) and 80CCD(2).

    Alok Nigam
  2. Karan Batra

    Karan Batra Well-Known Member

    The total combined deduction allowed under Section 80C, 80CCD(1), 80CCD(1B), 80CCD(2) is limited to Rs. 2 Lakhs.

    Therefore, you will get deduction of Rs. 2,00,000
  3. atanu chatterjee

    atanu chatterjee New Member

    @ Mr. Karan Batra, There is no compulsion as per the act to claim a deduction u/s 80CCD(1), so I think Mr. Alok Nigam can safely claim 50,000/- u/s 80CCD(1B). His PPF saturates 80C where he can claim a deduction of 150000. If he adds employers contribution to his income from salaries he can claim a deduction(just to keep things technically straight) u/s 80CCD(2). Please clarify if I am wrong.
  4. atanu chatterjee

    atanu chatterjee New Member

    My mother in law sold a land to Coal India Ltd in 2015-16(FY) for Rs. 225000. The land was acquired by her mother through inheritance and passed down to her through inheritance. Incidentally both the ladies were single children. The land was sold on condition of employment (as per the resettlement rules of Coal India) and the person receiving the benefit paid my mother in law Rs. 1100000 by account payee check.
    Q1. What will be the taxable income and under which head. Indexation is not possible as we don't even know the date of actual acquisition.
    Q2. Will my father in law's interest income be clubbed. All the transactions are made to their joint account.
    Sincere suggestions from knowledgeable persons solicited , preferably before 5th Aug.
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