Hey @Shiv_Katira,
The combined deduction can go up to ₹2L. As most people tend to exhaust the ₹1.5L deduction under section 80C, an additional deduction of ₹50,000 is allowed for investments in NPS. If you do not have any other investments like EPF, ELSS, PPF that are allowed as a deduction under section 80C, you can claim the entire ₹2L (1.5L(80C) + ₹50,000 (80CCD (1b)) deduction for investing in NPS.