Sec 80ccd read with sec36(1)(iva)
This query is : Open
05 March 2013
Sec 36(1)(iv)
any sum paid by the assessee as an employer by way of contribution towards a pension scheme, as referred to in section 80CCD, on account of an employee to the extent it does not exceed ten per cent of the salary of the employee in the previous year.
the above exp is allowed u/s36,
My query is
does this amount is same as specified u/s 80CCD(2)
If yes, then we can say that it is case of double deduction i.e. to both employer & employee( it can exceed Rs1 lac limit)
any sum paid by the assessee as an employer by way of contribution towards a pension scheme, as referred to in section 80CCD, on account of an employee to the extent it does not exceed ten per cent of the salary of the employee in the previous year.
the above exp is allowed u/s36,
My query is
does this amount is same as specified u/s 80CCD(2)
If yes, then we can say that it is case of double deduction i.e. to both employer & employee( it can exceed Rs1 lac limit)
05 March 2013
Dear Ankit,
in one case, its the employer who is getting deduction for an expense (section 36) which he/she paid for.
On the other hand it is the employee who is claiming deduction for investment made in a pension scheme out of his salary.
Where is question of double deduction? both the employer and employee are claiming deduction for their respective contributions.
in one case, its the employer who is getting deduction for an expense (section 36) which he/she paid for.
On the other hand it is the employee who is claiming deduction for investment made in a pension scheme out of his salary.
Where is question of double deduction? both the employer and employee are claiming deduction for their respective contributions.
Message likes :
1 times
07 March 2013
Then what is difference between amount specified u/s 80CCD(1) and Sec80CCD(2)
07 March 2013
Sorry Ankit,
You are correct with respect to 80CCD(2). contribution under 80ccd(2) does provide for double deduction - to employee under 80ccd(2), and to the employer under sec 36.
My earlier answer was incomplete and only referred to 80ccd(1).
Amount under 80CCD(1) and 80CCD(2) are different - sub section (1) refers to the employee's contribution whereas sub section (2) refers to employer's contribution.
Needless to say that 80CCD(2) shall apply only in case the assessee is an employee whereas 80CCD(1) shall be available to any individual assessee.
You are correct with respect to 80CCD(2). contribution under 80ccd(2) does provide for double deduction - to employee under 80ccd(2), and to the employer under sec 36.
My earlier answer was incomplete and only referred to 80ccd(1).
Amount under 80CCD(1) and 80CCD(2) are different - sub section (1) refers to the employee's contribution whereas sub section (2) refers to employer's contribution.
Needless to say that 80CCD(2) shall apply only in case the assessee is an employee whereas 80CCD(1) shall be available to any individual assessee.
Message likes :
1 times
07 March 2013
Thanks Nikhil for confirming
at least my interpretation of law is correct this time
at least my interpretation of law is correct this time
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- GST ON DAMAGED GOODS
- E way bill for tractors
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Specified Profession
- Suggestions required for income tax filing-software (FY 2025-26)
- TAN for Partnership
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
