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What is the limit on deduction under 80CCC, & 80CCD? |
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Answer» Deduction for Contribution to Pension Fund (Section 80CCC) : An Individual can claim deduction from gross total income equivalent to investment made of Rs. 1, 50, 000 whichever is less. Deduction in Respect of Contribution to Pension Scheme of Central Government [Section 80CCD] : An Individual employed by central government or self employed can claim upto following: Contribution by Employer: Deductible amount is contribution made by the employer to the employee during the year subjected to maximum of 10% of the salary of the employee. Contribution by Employee: Deductible amount is contribution made by the employee during the year subjected to maximum of 10% of the salary of the employee. |
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