Deduction in 2019-20

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10 Points Joined March 2020
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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On 21 March 2020 at 09:44 Report
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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.
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On 21 March 2020 at 10:14
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Student
35 Points Joined December 2012
Deduction of profession tax is 2500 in Maharashtra.
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On 21 March 2020 at 10:40
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10 Points Joined March 2020
I'm from jharkhand..
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On 21 March 2020 at 15:58
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Chartered Accountant
12739 Points Joined December 2016

* 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 

 

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On 21 March 2020 at 16:36
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12244 Points Joined May 2017
You can claim the 80ccd(1) amount under 80ccd(1b).
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On 22 March 2020 at 03:36
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Chartered Accountant
12739 Points Joined December 2016

Eligible for Both deduction 80 C 1,50,000 and 80 CCD (1b) Rs. 50,000  

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On 22 March 2020 at 08:04


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