Section 80ccd include 80 c

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Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2015 IS SECTION 80CCD FOR NPS. WILL INCLUDE IN SECTION 80C.

Amol S Joglekar

Amol S Joglekar (Expert)
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17 March 2015 Both the sections are independent of each other.

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Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2015 MY BROTHER IS OPEN A NEW PENSION SCHEME U/S 80CCD IN SBI..HIS DETAIL IS AS BELOW. AMOUNT CONTRIBUTED IN 80CCD=100000 (25000 PER QUARTER) SIR CAN HE AVAILED WHOLE AMOUNT IN SECTION 80C. BECAUSE I READ THAT IN 80CCD (1)EMPLOYEE OR ANY OTHER ASSESSEE CAN CONTRIBUTE ONLY 10 % OF HIS GROSS TURN OVER, MY BROTHER SALARY IS 30000 INCLUDE D.A. THEN ONLY HE CLAIMED 36000(30000*10/100=3000*12=36000)

Amol S Joglekar

Amol S Joglekar (Expert)
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17 March 2015 The condition of 10% of Gross Total Income is required to be followed.
In your case, the working of 36,000 is correct.

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Querist : Anonymous

Querist : Anonymous (Querist)

17 March 2015 THANKS FOR YOUR VALUABLE REPLY SIR BUT SIR TELL M EONE THINGH.
SUPOOSE BASIC SALARY+DA=60000
CONTRIBUTE IN NPS =50000 PER YEAR
THEN AS PER 10% FORMULA
60000*10/100=6000
THEN 6000*12=72000
IT MEANS THAT HE CONTRIBUTE ONLY 50000 PER YEAR AND 10 % COMES 72000. THEN WHICH AMT. HE CLAIMED???????? PLEASE SIR REPLY

Amol S Joglekar

Amol S Joglekar (Expert)
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19 March 2015 01. Why do you change the FIGURES in the original example? Any specific reason? Please share.

02. "whichever is less" is the principle which is to be followed in this.

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