80CCD

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hello expert
please explain 80ccd
Replies (3)

As per sec 80 CCD contribution to notified pension scheme of Central government by

Sec 80 CCD (1) A central goverment employee (appointed after 1.1.2004)/ An employee of any other employer/any other individual assessee------------ [ self contribution up to 10% of{salary/ Gross total income(individual assessee)}]

Sec 80 CCD(1B)- Additional deduction of self contribution up to Rs. 50000(provided the deduction u/s 80CCD(1) has not been claimed on the same aamount)

Sec 80 CCD (2)- Contributionn by employer up to 10% of salary

For FY 2015-16 (assessment year 2016-17)

Total Deduction under Section 80C, 80CCC, 80CCD(1)  should not exceed Rs 150000.

 I thinks there needs to be a correction here "

Total Deduction under Section 80C, 80CCC, 80CCD(1) should not exceed Rs. 200000 and not Rs.150000.

Read more at: /forum/80ccd-370266.asp

You are including limit of Rs. 50000 (sec80 CCD(1B)) then it will add up to 200000 but if you consider only 80 C to 80 CCD(1) the limit is Rs. 150000 only.


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