Deduction under section 80c

This query is : Resolved

venkatesh (Querist)
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30 December 2014 is the deduction available under section 80ccd(2) over and above the deduction available under section 80C?

suppose an assessee has 1,50,000 under 80 C and under 80ccd(2) has 20000. can he claim 1,70,000?

CA. Amol Jain

CA. Amol Jain (Expert)
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30 December 2014 Yes..he can claim 1,70,000.00

@VaibhavJ

@VaibhavJ (Expert)
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30 December 2014 Hi

also deduction under 80CCD(2) is restricted to 10% of Basic + DA

Thanks

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CA. Amol Jain

CA. Amol Jain (Expert)
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31 December 2014 Agree with Mr. VaibhavJ..

@VaibhavJ

@VaibhavJ (Expert)
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31 December 2014 Thanks, also whole amount which you are showing as deduction u/ 80CCD(2) need to be added first in Gross Total Income of an employee, so virtually it doesn't give any tax saving..