Deduction u/s 80ccd

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JAYAKUMAR.M.G

JAYAKUMAR.M.G (Querist)
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07 December 2015 Dear Experts
Please clarify whether there is limit of 10% salary incase of Central Goct Employees is applicable for AY 2015-16.To be specific whether it is justified limitimg the exemption u/s 80 CCD 1&2 Rs 81300 each inrespect of a Central Govt employee whose gross salary is 813000 and contribution Rs 151000 each by the employer & employee

MOHD AFROZ

MOHD AFROZ (Expert)
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08 December 2015 Maximum limit of exemption u/s 80CCD is 10% of salary. If amount of contribution is more than the specified percentage u/s 80CCD, excess amount of contribution shall not be eligible for deduction under this section.
10% salary limit applicable for the a/y 15-16.

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