CPS ( NPS ) - Income Tax - Clarification on 80CCD ( 1B ) Memo No : FINO2 - 18069 / 37 / 2019 - H Sec - DTA , 13 / 02 / 2020

File No . FINO2 - 18069 / 37 / 2019 - H SEC - DTA

GOVERNMENT OF ANDHRA PRADESH DIRECTORATE OF TREASURIES AND ACCOUNTS : : IBRAHIMPATNAM

CPS ( NPS ) - Income Tax - Clarification on 80CCD ( 1B ) Memo No : FINO2 - 18069 / 37 / 2019 - H Sec - DTA , 13 / 02 / 2020

Sub :

DTA - CPS ( NPS ) - Income Tax - Clarification on 80CCD ( 1B ) - Reg .

Ref :

  1 ) F . No . PR . CCIT / Tech / 67 / 2015 - 16 St . 12 - 02 - 2016 of Income Tax Officer ( H . Qrs ) ( Tech ) Olo Pr . CCIT , AP and Telangana , Hyderabad .

2 ) Representation Dt . 13 - 02 - 2020 of the President , APCPSEA .

& & &

      While communicating copy of the reference 15 cited all the DDs of the DTs in the state are hereby informed that , the Income Tax Officer ( H . Qrs ) ( Tech ) Olo Pr . CCIT , AP and Telangana , Hyderabad have clarified that if the individual having savings of Rs 1 , 50 , 000 under 80C , excluding CPS deduction , the incumbent can avail RS . 50 , 000 / - which is deducted towards CPS ( NPS ) under 80CCD ( 18 ) . It was also clarified therein that the incumbent can split the CPS ( NPS ) amount in 80CCD ( 1 ) and BOCCD ( 13 ) if the employee have less than Rs . 1 , 50 , 000 / - savings in 80C and exceeds RS . 50 , 000 / - towards CPS ( NPS ) .

They are therefore requested to follow the above instructions for strict compliance Signature

Not Verified Digitally signed by BEZALADA LAKSHMI HANUMANTHA RAO Date : 2020 . 02 . 13 13 : 05 : 45 IST Reason : Approved HANUMANTHA RAO BEZWADA LAKSHMI DIRECTOR ENCL : a . a

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All the Deputy Directors of District Treasuries in the state .