Sec 80 ccd
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2017
Dear Sir,
In a form 16, Rs 77014 is mentioned under section 80C. Rs 125906 is mentioned under section 80CCD. The total amount of Rs 202920/- has been deducted from the gross total income.
While efiling the IT Return, it is not allowing the entire amount of Rs 202920/- to be deducted from the gross total income. It is taking only upto Rs 1,50,000/-.
Can we split the NPS contribution amount of Rs 125906/- in 80CCD(1) & 80CCD(1b) and e-file the IT Return?
(i.e.,can we show the amount exceeding Rs 1.5Lakh under section 80CCD(1b))
In a form 16, Rs 77014 is mentioned under section 80C. Rs 125906 is mentioned under section 80CCD. The total amount of Rs 202920/- has been deducted from the gross total income.
While efiling the IT Return, it is not allowing the entire amount of Rs 202920/- to be deducted from the gross total income. It is taking only upto Rs 1,50,000/-.
Can we split the NPS contribution amount of Rs 125906/- in 80CCD(1) & 80CCD(1b) and e-file the IT Return?
(i.e.,can we show the amount exceeding Rs 1.5Lakh under section 80CCD(1b))
02 August 2017
You can take deduction of remaining in Sec 80CCD(1B) upto Rs.50000/-.
02 August 2017
Also if there is employer contribution incuded in it, same is available as deduction u/s 80CCD(2)
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