macimum amount for deduction???
standard deduction 50000
profession tax 2100
80 C 150000
80 CCD 50000 =total 250000
Is this okay?
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Deduction in 2019-20
Replies (6)
Quick Summary
No, maximum deduction after adding up 80C and 80CCD cannot exceed 150000.
Hence your deduction will be : Standard Deduction 50000 and deduction under section 80C and 80CCD - 150000 max.
Hence your deduction will be : Standard Deduction 50000 and deduction under section 80C and 80CCD - 150000 max.
Deduction of profession tax is 2500 in Maharashtra.
I'm from jharkhand..
* Aggregate Deduction u/s 80C , 80CCC and 80CCD(1) is restricted to Rs. 1.50,000
* Professional Tax Paid by Employer >> taxable and deduction u/s 16
Paid by employee >> deduction u/s 16
You can claim the 80ccd(1) amount under 80ccd(1b).
Eligible for Both deduction 80 C 1,50,000 and 80 CCD (1b) Rs. 50,000
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