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80Ccd

23 January 2018

if employee Invest 2lakhs to nps (salary limite of 10% is 140000/-) and how muchnhe can claim under 80ccd ? 1.4 L + 50000 additional or only 1.4L?

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JOSHIJOS ASSOCIATES (22 Points)
Replied 23 January 2018

It is 1.4 Lakhs ..

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171239 Points)
Replied 23 January 2018

Section 80CCD(1)

Employee contribution up to 10% of basic salary and dearness allowance (DA) up to 1.5 lakh is eligible for tax deduction.

Section 80CCD(1B) ,

Additional exemption up to Rs 50,000 in NPS is eligible for income tax deduction.

Total exemption available in present case is Rs.1.90 lakhs.

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JOSHIJOS ASSOCIATES (22 Points)
Replied 24 January 2018

if employee invest he can claim 1.5 L and 50000 additional and there is no limite applicable by employee investment ,if invest by emoloyer limite of 10% applicable

JOSHIJOS ASSOCIATES (22 Points)
Replied 24 January 2018

am i correct ?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (171239 Points)
Replied 24 January 2018

No. As per section 80CCD(1) Employee contribution up to 10% of basic salary and dearness allowance (DA) up to 1.5 lakh is eligible for tax deduction.