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Deduction under chapter VI
how much deduction should be availed under sec.80ccd
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Employee’s contribution – Section 80CCD (1)
Allowed to an individual who makes deposits to his/her pension account. Maximum deduction allowed is 10% of salary (in case the taxpayer is an employee) or 10% of gross total income (in case the taxpayer being self-employed) or Rs 1, 50,000, whichever is less.
From FY 2017-18 –
In the case of a self-employed individual, maximum deduction allowed is 20% of gross salary instead of 10% (earlier subject to a maximum of Rs1, 50,000).
Allowed to an individual who makes deposits to his/her pension account. Maximum deduction allowed is 10% of salary (in case the taxpayer is an employee) or 10% of gross total income (in case the taxpayer being self-employed) or Rs 1, 50,000, whichever is less.
From FY 2017-18 –
In the case of a self-employed individual, maximum deduction allowed is 20% of gross salary instead of 10% (earlier subject to a maximum of Rs1, 50,000).
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