Section 80CCD

Contribution By Employer Exceeding Rs.7.5 Lakhs Is Now Taxable

Income Tax - In this Article, we will discuss about change in Section 17 of Income Tax act related to provident and superannuation fund received by  salaried employees . Employer Contribution in all  3 specified fund including interest earned on same amount ,during Previous Financial Year,  will be taxable in hands of employees  if it is exceeding...

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Pension to Salaried – Tax provisions

Income Tax - To discuss the tax treatment of the pension received, comprehensively, the employees have been divided in two types, government and non-government. Even the pension received can be of two types, commuted and uncommuted....

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It’s Not Too Late To Save tax!

Income Tax - The deadline for making tax saving investments is 31 March. But, there is still time to adopt last minute tax saving tips to claims tax benefits offered by the Government. This article discusses some tax investment avenues which can be utilized before 31 March to lower one’s overall tax liability....

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Be a Tax Saving Ninja by Equipping Yourself with Right Knowledge

Income Tax - Taxes are an integral part of our economy. They are unavoidable for all individuals who fall in the tax bracket. However, the Income Tax Act offers various exemptions and benefits, which if used smartly can help you save a large portion of your income. However, what you need most for saving tax the right way […]...

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Contributions to National Pension System (NPS) u/s 80CCD(1B)

Income Tax - As the Financial Year 2017-18 is nearing completion, individual tax payers are having hardly one month time to save tax. For individual assessees whose Rs.1.5 lakh savings limit as available u/s 80C, 80CCC and 80CCD(1) are exhausted the only option left is contribution to NPS....

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Additional deduction of Rs. 50000 for NPS Investment

Income Tax - Through the Finance Act, 2015, a separate section 80CCD(1B) has been inserted in the Income Tax Act, 1961 , wherein a subscriber under NPS is allowed a deduction in computation of his total income, whether or not any deduction is allowed under Section 80CCD(1)...

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How to Open NPS Account Online and Tax Benefits

Income Tax - Guidelines for Online Registration NPS Trust welcomes you to ‘eNPS’ ,which will facilitate:- ➤  Opening of Individual Pension Account under NPS (only Tier I / Tier I & Tier II) ➤  Making initial and subsequent contribution to your Tier I as well as Tier II account To open an Individual Pension account online. ✔  ...

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CBDT notifies Atal Pension Yojana u/s 80CCD

Notification No. 7/2016-Income Tax - (19/02/2016) - Central Government hereby notifies the ‘Atal Pension Yojana (APY)’ as published in the Gazette of India, Extraordinary, Part I, Section 1, vide number F. No. 16/1/2015-PR dated the 16th October, 2015 as a pension scheme for the purposes of the said section....

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Recent Posts in "Section 80CCD"

Contribution By Employer Exceeding Rs.7.5 Lakhs Is Now Taxable

In this Article, we will discuss about change in Section 17 of Income Tax act related to provident and superannuation fund received by  salaried employees . Employer Contribution in all  3 specified fund including interest earned on same amount ,during Previous Financial Year,  will be taxable in hands of employees  if it is exceeding...

Read More
Posted Under: Income Tax |

Pension to Salaried – Tax provisions

To discuss the tax treatment of the pension received, comprehensively, the employees have been divided in two types, government and non-government. Even the pension received can be of two types, commuted and uncommuted....

Read More
Posted Under: Income Tax |

It’s Not Too Late To Save tax!

The deadline for making tax saving investments is 31 March. But, there is still time to adopt last minute tax saving tips to claims tax benefits offered by the Government. This article discusses some tax investment avenues which can be utilized before 31 March to lower one’s overall tax liability....

Read More
Posted Under: Income Tax |

Be a Tax Saving Ninja by Equipping Yourself with Right Knowledge

Taxes are an integral part of our economy. They are unavoidable for all individuals who fall in the tax bracket. However, the Income Tax Act offers various exemptions and benefits, which if used smartly can help you save a large portion of your income. However, what you need most for saving tax the right way […]...

Read More
Posted Under: Income Tax |

Contributions to National Pension System (NPS) u/s 80CCD(1B)

As the Financial Year 2017-18 is nearing completion, individual tax payers are having hardly one month time to save tax. For individual assessees whose Rs.1.5 lakh savings limit as available u/s 80C, 80CCC and 80CCD(1) are exhausted the only option left is contribution to NPS....

Read More
Posted Under: Income Tax |

Deduction under section 80CCD of Income Tax Act

The present article highlights provisions of section 80CCD of the Income Tax Act, which provides a deduction of the amount paid or deposited towards the notified pension scheme. Deduction under section 80CCD is divided into three parts which are defined as under – 1. Section 80CCD (1) – Employee’s contribution to the notified pens...

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Posted Under: Income Tax |

Section 80CCD Deduction to National Pension System subscribers

(i) Under the existing provisions of section 10 of the Act, any payment from the NPS Trust to an assessee on closure of his account or on his opting out of the pension scheme, to the extent it does not exceed forty per cent of the total amount payable to him at the time of […]...

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Posted Under: Income Tax |

New Pension Scheme- Deduction under Section 80CCD

NEW PENSION SCHEME- Section 80CCD of the Income Tax Act, 1961– (Deduction based on Investment) The following conditions need to be satisfied for the applicability of Section 80CCD: 1- It is applicable to only Individual assessee. 2-It is applicable to Individual assessee employed with Central Government or employed by any other pers...

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Posted Under: Income Tax | ,

NPS Scheme Looking Attractive Now

A subscriber under NPS is entitled to get additional tax benefit up to Rs. 50,000 in a financial year under section 80CCD (IB) of Income Tax Act. This is over and above the deduction of Rs. 1,50,000 available under section 80C /80CCE of Income Tax Act ....

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Posted Under: Income Tax |

Section 80CCD of income tax act 1961

Sec 80CCD of income tax act 1961 provide deduction on contribution to Pension Fund setup by Central Government. An individual person can get deduction up to 2, 00,000 under this particular section. The provisions of this particular section is as follows:-...

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Posted Under: Income Tax |

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