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Sec 80 C
Direct Taxation
Individual other salaried person , whose contribution to Atal pension Yojana is 75000 Gross total income - 10 lakhs p.a. Maximum deduction - 20 % of gross total income U/s 80 CCD(1) Additional deduction allowed upto 50000 Compute the total deduction?
Answers (3)
Shankari C
Additional Deduction is applicable only when contribution is made by the employee/person other than salaried employees (single sided contribution) In this case ,is he contributing to the additional contribution?
75000 only contribution., Which doesn't exceed the 20% of 10 L( 2 lakh) 75000 is entirely allowed., In this case no need of allowing additional deduction..
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