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Mihir Tanna |1018 Answers |Ask -Follow

Tax Expert - Answered on May 24, 2024

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more

Question by Reno on Feb 12, 2024Hindi

Money

Query regarding NPS. Can I save tax for both 80CCD (1B) for 50,000 and 80CCD (2) ?

Ans: An additional deduction Rs. 50,000 in NPS is available u/s 80CCD (1B).

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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I am getting full tax benefit under 80C for home loan. Can I open NPS account for more tax benefit under 80ccd? I am salaried person.

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Question by Aasma - Oct 20, 2022Hindi

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I am salaried person. I am getting full tax benefit under 80C for home loan. Can I open NPS account for more tax benefit under 80ccd?

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Sir, In New Tax Regime deduction of NPS limited to Rs. 50000 under section 80CCD (1B) is allowed or not ?

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If you like the reply, pl follow me else ask again without any hesitation.
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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