Find
Yes, under the old regime. Your own NPS contribution up to ₹50,000 is deductible under Sec 80CCD(1B), over and above the ₹1,50,000 80C limit.
ITR
Extra ₹50,000 NPS deduction under 80CCD(1B)
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Provisions
Sec 80CCD(1B), Income-tax Act 1961; Sec 80C, Income-tax Act 1961 (now Sec 123)
Analysis
At a 30% slab, ₹50,000 saves ₹15,600 including cess. The money is locked in till retirement with partial withdrawal rules, so weigh the lock-in. Use the NPS transaction statement for proof.
Close
- Contribute to your NPS Tier I account.
- Download the contribution statement.
- Claim up to ₹50,000 under 80CCD(1B).
- Choose the old regime in the ITR.
Connect now
A Savvy replies in minutes.
Fixed price before you pay. Your Savvy is paid only after you accept the work.
General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.
People also ask
- NPS Tier 1: 80CCD(1B) ₹50K Extra + Sec 124 (old 80CCD(2)) Employer
- Section 124 (old 80CCD(2)): Employer NPS Contribution (Both Regimes)
- Section 123 (old 80C): ₹1.5L Deduction (All Instruments)
- Standard deduction claimed by both employers
- Paying the ₹1,000 fee to link PAN and Aadhaar
- Section 78 (old 50C), Stamp Duty Value vs Sale Price: The Deemed Consideration Trap