Deduction
This query is : Resolved
27 July 2014
plz define what is section of 80CCD.and what is its limit for exemption.
27 July 2014
Section 80CCD (1): Deduction in respect of Contribution to Pension Account (by Assessee}
Deduction available for the amount paid or deposited in a pension scheme notified or as may be notified by the Central Government subject to a maximum of :
(a) 10% of salary in the previous year in the case of an employee (b) 10% of gross total income in any other case.
Section 80CCD (2): Deduction in respect of Contribution to Pension Account (by Employer}
Deduction available for the amount paid or deposited by the employer of the assessee in a pension scheme notified or as may be notified by the Central Government subject to a maximum of 10% of salary in the financial year.
This deduction is included in the limit of Rs 1 Lac (1.5 lacs from FY 2014-15).
Deduction available for the amount paid or deposited in a pension scheme notified or as may be notified by the Central Government subject to a maximum of :
(a) 10% of salary in the previous year in the case of an employee (b) 10% of gross total income in any other case.
Section 80CCD (2): Deduction in respect of Contribution to Pension Account (by Employer}
Deduction available for the amount paid or deposited by the employer of the assessee in a pension scheme notified or as may be notified by the Central Government subject to a maximum of 10% of salary in the financial year.
This deduction is included in the limit of Rs 1 Lac (1.5 lacs from FY 2014-15).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Payment for sale in March and Sale deed registration to be done in April
- Two pancard
- Transfer of MF
- Treatment of TDS under Section 194-IA in case of cancelled property transaction
- Lifting and cross charges
- REGARDING ITR OF TRUST
- SSY for 2 daughters
- E bike purchase can get input in GST
- Unable to file 3B monthly return
- Eligibility for filling NEW Form 121 from April 2026
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Spice form, ? mark comes in address
- Tds on GST in connection with sale to public company
- B2B Amendment
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
