ITR 1 - 80CCD Deduction for Salaried Employees

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  1. shashi chandrwanshi

    shashi chandrwanshi New Member

    sir i am filing my ITR 1 for AY 2016-17
    when i am putting value of 50000 in 80CCD(1) system calculated amount is 40252.
    why that amount is calculated less than i feed.
    2. can i also eligible to claim in 80CCD(1B) as i have file 50000 in 80CCD(1)
     

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  2. Karan Batra

    Karan Batra Well-Known Member

  3. ZED

    ZED Well-Known Member

    The deduction u/s 80CCD(1) is restricted to 10% of the salary. That's why the deduction has been restricted.


    S.80CCD(1B) An assessee referred to in sub-section (1), shall be allowed a deduction in computation of his total income, whether or not any deductions is allowed under sub-section (1), of the whole of the amount paid or deposited in the previous year in his account under a pension scheme notified or as may be notified by the Central Government, which shall not exceed fifty thousand rupees:

    Provided that no deduction under this sub-section shall be allowed in respect of the amount on which a deduction has been claimed and allowed under sub-section (1).

    Therefore, if your contribution was 50,000 and 40,252 has been allowed u/s 80CCD(1) then you may claim the balance amount u/s 80CCD(1B)
     
  4. shashi chandrwanshi

    shashi chandrwanshi New Member

    can i claim my rest amount 9748 of NPS contribution in 80C
     
  5. ZED

    ZED Well-Known Member

    Claim it under 80CCD(1B)
     
  6. shashi chandrwanshi

    shashi chandrwanshi New Member


    can i claim my rest amount 9748 of NPS contribution in 80C or 80CCD(1B)[/QUOTE]
     
    Last edited: Jun 27, 2016
  7. ZED

    ZED Well-Known Member

    No.
     
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