Income Tax Benefits of Atal Pension Yojana

Atal Pension Yojana is a very good scheme especially for unorganised sector. This scheme gives guaranteed return in spite of market fluctuation.

Click here to know more about Atal Pension Yojana (APY).

Following is the summary of tax benefits one can avail by investing into Atal Pension Yojana.
Atal Pension Yojana qualifies for tax benefits under Section 80CCD

1) Under Section 80CCD(1)

The maximum benefit available is INR 150000/- (including Maximum Limit of Section 80C)
Maximum Contribution is limited to 20% of annual income of an individual.

80CCD(1) forms the part of Section 80C.

2) Under Section 80CCD(1B)

This is the additional tax benefit of up to INR 50000/- eligible for income tax deduction
Both self-employed and employees are eligible for availing this deduction.
This is over and above Section 80CCD (1)

Hence if you have already invested INR150000/- towards Section 80C, then APY contribution can be given under Section 80CCD (1B) for additional tax benefit of up to INR 50000/-

Disclaimer: If you find any discrepancies in this article then please contact us

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