I'm a salaried employee. Can I claim the following deductions in one financial year:
(a) Rs. 150000 under section 80C
(b) Rs. 50000 under section 80CCD(1B)
(c) 10% of basic salary under section 80CCD(2)
I want to claim 2 types of deduction under section 80CCD (i.e. point 2&3). Please let me know if it is possible.
Menu
Section 80C, 80CCC and 80CCD
Replies (5)
Quick Summary
For a & b you will get deduction only 1,50,000/- as per section 80CCE ,for c you Can claim 10% of basic salary.
But section 80CCD(1B) provides additional deducted of 50000 over and above of Rs. 150000 limit on section 80C, 80CCC & 80CCD(1)
No , As per section 80CCE you will get only deduction of 1.50 lacs , which covers 80C ,80CCC, and sub section 1 of the section 80CCD of the Income tax act .
Yes sir, you can claim all the three deductions. the deduction referred in point no. 3 can be claimed subject to the condition that the same should be included in total salary income (80ccd(2) deduction is on account of employer contribution)
You can claim all three deduction
Recent Topics :
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
- Taxation of Gift - Father to Daughter
- TDS on Property Purchased above 50lakh
- Accounting Treatment in Tally for Restaurant Sales
- Form 146 required
- Rule 86(B) Applicability
- ROC FILINGS FY2025-26
- Mismatch in 26AS
Related Topics :
CAclubindia
