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Wednesday, October 12, 2016

Atal Pension Yojana contribution Tax Benefit for spouse



Contributions to Atal Pension Yojana (APY) are eligible for the same tax benefits as the NPS.

This means that the contributions can be claimed under Section 80CCD (1B). The current limit for Section 80CCD (1B) is Rs 50,000, over and above the Rs 1.5 lakh limit under Section 80C.

Section 80 CCD (1) is a different one, meant to cover employers' contribution towards NPS.


You cannot get tax benefit by investing in the name of your spouse under Section 80 CCD.




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