National Pension Scheme and 80c Exemption

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Balaji Subbu (SAP FICO) 24 February 2021

HI Professional Friends

My 80C total investment is Rs 1 Lakh. Will I invest Rs 50,000 in NPS Tier 1 (National Pension Scheme) and further extra another Rs50,000 also will I invest in NPS?

If so shallI get exemption Rs 2Laks? (1.5L under 80C and another Rs50K under 80CCD)

Is this right understanding?

Please clarify

Adv Thanks

Balaji Subbu

Sourav (Student) 24 February 2021

No, you will get 150000 rupees in total aggregate of 80c, 80ccc, 80cccd

SUSHANT BIDAYE 24 February 2021

You will get deduction if 200000 as rightly asked in question itself in my view

Josh (Manager) 24 February 2021

You will get aggregate 1.5 lakh deduction for investments made in 80 C, 80CCC and 80 CCD (1) (i.e. as employee) plus additional 50k deduction if you invest under 80 CCD (1B). Pls. ensure that the additional investment (50k) you make is covered under this section.