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Is Section 80CCD(1B) applicable to investments made by a spouse in the Atal Pension Yojna (APY)?

Question

Is Section 80CCD(1B) applicable to investments made by a spouse in the Atal Pension Yojna (APY)?

Expert Answer
Answered 25 Nov 2022
2037 views

Investments made in APY are tax deductible under Section 80CCD (1B) and can be considered similarly to NPS investments. As a result, APY can claim the deduction under Section 80CCD (1B). An investment made in the spouse's name, however, is not eligible for reimbursement under this clause.

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