Sec 80 ccd
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2017
Dear Sir,
In a form 16, Rs 77014 is mentioned under section 80C. Rs 125906 is mentioned under section 80CCD. The total amount of Rs 202920/- has been deducted from the gross total income.
While efiling the IT Return, it is not allowing the entire amount of Rs 202920/- to be deducted from the gross total income. It is taking only upto Rs 1,50,000/-.
Can we split the NPS contribution amount of Rs 125906/- in 80CCD(1) & 80CCD(1b) and e-file the IT Return?
(i.e.,can we show the amount exceeding Rs 1.5Lakh under section 80CCD(1b))
In a form 16, Rs 77014 is mentioned under section 80C. Rs 125906 is mentioned under section 80CCD. The total amount of Rs 202920/- has been deducted from the gross total income.
While efiling the IT Return, it is not allowing the entire amount of Rs 202920/- to be deducted from the gross total income. It is taking only upto Rs 1,50,000/-.
Can we split the NPS contribution amount of Rs 125906/- in 80CCD(1) & 80CCD(1b) and e-file the IT Return?
(i.e.,can we show the amount exceeding Rs 1.5Lakh under section 80CCD(1b))
CA Rashmi Gandhi
(Expert)
02 August 2017
You can take deduction of remaining in Sec 80CCD(1B) upto Rs.50000/-.
CA Rashmi Gandhi
(Expert)
02 August 2017
Also if there is employer contribution incuded in it, same is available as deduction u/s 80CCD(2)
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