Income tax
Avik Banerjee (Account Assistant) (122 Points)
11 September 2016Avik Banerjee (Account Assistant) (122 Points)
11 September 2016
mohammad rasool baig
(Management Consultant)
(1026 Points)
Replied 12 September 2016
Please clarify your query.
saurabh kumar
(Tax Consultant)
(348 Points)
Replied 12 September 2016
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(avaible for employee)
For FY 2015-16 (assessment year 2016-17)
Total Deduction under Section 80C, 80CCC, 80CCD(1) should not exceed Rs 150000.u/s 80 CCD(1B) additonal deduction of Rs. 50000 is available.Apart from that no limit for contribution up to 10% of salary by employer(govt. or other).
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