Section 80ccd(1)

Cost Accountant (Student) (92 Points)

10 May 2015  

Please guide me through the new rules of Section 80CCD(1).

I simply can't understand whether the quatum of deduction is Rs. 1,00,000/- OR 10% of salary (+DA) OR both?

Also, Section 80CCE is putting a limit of Rs.1.5L/- on aggregate of 80C, 80CCC & 80CCD(1) ?

Wont all the three limits will bump into each other in case of Section 80CCD(1) ?

I mean, if both is the ccorrect answer, this means they are applying 3 limits viz. - (i) Rs.1,00,000/- (ii) 10% of Salary (+DA) and (iii) Rs.1.5 Lakhs/- on Section 80CCD (1). But How??

 

Its all getting very baffled to understand. Please elaborate with an example.

 

Kindest Regards.

I. Agarwal