Deduction under section 80c
This query is : Resolved
30 December 2014
is the deduction available under section 80ccd(2) over and above the deduction available under section 80C?
suppose an assessee has 1,50,000 under 80 C and under 80ccd(2) has 20000. can he claim 1,70,000?
suppose an assessee has 1,50,000 under 80 C and under 80ccd(2) has 20000. can he claim 1,70,000?
CA. Amol Jain
(Expert)
30 December 2014
Yes..he can claim 1,70,000.00
30 December 2014
Hi
also deduction under 80CCD(2) is restricted to 10% of Basic + DA
Thanks
also deduction under 80CCD(2) is restricted to 10% of Basic + DA
Thanks
CA. Amol Jain
(Expert)
31 December 2014
Agree with Mr. VaibhavJ..
31 December 2014
Thanks, also whole amount which you are showing as deduction u/ 80CCD(2) need to be added first in Gross Total Income of an employee, so virtually it doesn't give any tax saving..
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