I have a related question. Investments under following mutual funds are eligible to take tax benefits under Section 80 CCD 1B (ie. Rs 50000/-) ?
1. Franklin India Pension Plan-Growth
2. UTI Retirement Benefit Pension Plan
3. Reliance Retirement Fund – Wealth Creation Scheme
These funds are not eligible for deduction under Sec.Sec.80CCD(1B). Only NPS contribution is allowed for this additional Rs.50,000 deduction. Investment done in the above-mentioned funds are eligible for deduction under Sec.80C.