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)
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 Topic
- Due date of ITR for Option Trader
- Cancelled invoice entry
- Debt Mutual Fund Tax in New Regime
- Amount distributed by a Co-op. Hsg Society to its
- Delayed reported invoice in GSTR1
- Kusumgar IPO Listing Date: Shares Debut on BSE, NS
- When is Diwali in 2026? Date, Muhurat Timing and D
- Amount received by son from PPF closure proceeds o
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
Related Topics
CAclubindia
