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(1)                 Is sec 80 CCD (1B) a part of 80 CCD (1) and hence investments under 80 CCD (1B) limited to the overall limit of 1,50,000 of 80 CCE ?

or

(2)                 Is sec 80 CCD (1B) outside the overall limit of 1,50,000 of 80 CCE (like 80 CCD (2) ?

NOTE (1) : In SWAMYS income tax book in pg no. 129, example 14, it is illustrated that 80 CCD (1B) is limited to the overall limit of 1,50,000 of 80 CCE .

NOTE (2) : BUT WHEN ASKED THE TOLL FREE NO. of NPS, they said that sec 80 CCD (1B) outside the overall limit of 1,50,000 of 80 CCE (like 80 CCD (2) ? ********************* WHICH IS CORRECT ??? !!!! ????

JAYA KUMAR, PGT, KENDRIYA VIDYALAYA, TAMBARAM, CHENNAI.
asked in Taxes by (290 points)

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1 Answer

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You're referring old book for tax rules. As per current FY rule, implemented via budget of this year. So, what NPS officials are saying is correct. Hope it will help you. Admin
answered by (48.8k points)

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