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- Deductions Under Section 80CCD of Income Tax - ClearTax
Section 80CCD deals with deductions for contribution made to National Pension System and Atal Pension Scheme Under this section, deduction up to Rs 2 lakhs can be claimed, apart from employer's contribution which can be claimed under section 80CCD (2)
- Section 80CCD: Deduction Under 80CCD (1), 80CCD (1B), 80CCD (2)
Section 80CCD (2) of the Income Tax Act gives employed individuals the benefit of claiming income tax deductions for contributions made by their employer It is subject to the following conditions: *The limit of ₹1,50,000 deduction is inclusive of Section 80C, 80CCC and 80CCD (1) deductions
- Section 80CCD(2) of Income Tax Act: Deduction Under 80ccd(2 . . .
The maximum limit of deduction available under this section is Rs 2 lakhs and this includes an additional deduction of Rs 50,000 which is available under sub section 80CCD (1B)
- 80CCD (2) [Resolved] | Income Tax - CAclubindia
Employer shown a deduction of Rs 71130 u s 80CCD (2) in Form 16 part B (TRACES) and deducted the TDS accordingly Now when I am going to file the return AY 2024-25 (FY 2023-24) in ITR 2 , System is showing "Amount eligible for deduction under section 80CCD (2) = Rs 0 " why is this happening ?
- Section 80CCD - Deductions Under 80CCD (1) and 80CCD (2)
Under Section 80 of the Income Tax Act, 1961, an individual can avail exemptions and deductions that lowers their tax liability Under Section 80CCD, personal and employer contributions made to specific government pension schemes are eligible for income tax deductions
- Section 80CCD (2) deduction | Benefits | Limit | Eligibility
Employees at all income levels can claim the deduction, subject to the prescribed limits The maximum deduction available under Section 80CCD (2) is capped at the lower of the following: 10% of the employee’s salary (basic salary + dearness allowance) for private-sector employees
- 80CCD Deduction Limit Under the New Tax Regime (FY 2025-26)
Under the new tax regime, only the deduction under Section 80CCD (2) is available, which covers the employer’s contribution to an employee’s NPS account—up to 14% of salary (basic + DA) for both government and private sector employees
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