Budget updates move fast, keep up with CAclubindia Pro. Subscribe today!

80Ccd

165 views 5 replies

JOSHIJOS ASSOCIATES

22 Points Joined December 2017

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?

Replies (5)

JOSHIJOS ASSOCIATES

22 Points Joined December 2017

It is 1.4 Lakhs ..

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210657 Points Joined July 2016

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.

JOSHIJOS ASSOCIATES

22 Points Joined December 2017

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 Joined December 2017

am i correct ?

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

210657 Points Joined July 2016

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.