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IT Dept Clarification on 80CCD for CPS Employees

IT Dept Clarification on 80CCD for CPS Employees

  1. Income Tax Department of Telangana has clarified that If the CPS teacher/ employee have savings Rs.1.5 lakh under 80(C) excluding CPS deduction,the incumbent can avail additional Rs.50000/- of CPS amount. . under 80 CCD(1B) the amount which was deducted towards CPS(NPS).
  2. If the incumbent have less than 1.5 lakh Savings in 80(C) and exceeds Rs.50000/- towards CPS(NPS)... Then CPS(NPS) .Amount can split in 80CCD(1) and 80CCD (1B).
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