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80c deduction

Others 229 views 2 replies
contribution to pension plan is u/s 80c only?
Replies (2)
under section 80ccd(1) and 80ccd(1b) ,if your query relates to nps and cps
NO, it also include contribution to [u/s80CCC ]
any annuity plan of LIC of India or any insurer for receiving pension from the fund set up by LIC or such other insurer (subject to maximum rs 1,50,000)
section 80CCCD
contribution to pension scheme notified by the central government (subject to maximum rs 1,50,000)
- atal pension yojana
- national pension scheme
contribution to NPS
section 80CCD (1) deduction upto 10% of salary (salary = basic + DA ifthe terms of employment so provide)
or 20% of gross total income in case of self - employed
section 80CCD (1B)
additional deduction of upto rs 50,000 employees own contribution to the NPS
section 80CCD(2)
additional - employers contribution to the NPS up-to 10% of salary
total deduction u/s 80C, 80CCC AND 80CCD(1) is rs 1,50,000
the above limit of rs 1,50,000 is not for section 80CCD(1B) AND 80CCD (2)

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