The 80CCD deduction for AY 2019-20 can be divided into three different categories:
- 80CCD (1):
You can avail of this deduction irrespective of whether you’re in
employment or self-employed on the amount deposited under a pension
scheme notified by the Central Government (NPS deduction for AY
2018-19). The deduction allowed in this section is lower of the
following 3 amounts:
- 10% of your Salary (Basic salary+D.A) (in case you’re in employment) or 20 % of your Gross Total Income (in case you’re self-employed)
- Limit left under section 80CCE i.e. Rs 1,50,000 – deduction u\s 80C – deduction u\s 80CCC.
- Actual Amount paid under eligible NPS.
· 80CCD(1B): You can claim an additional deduction of up to Rs. 50,000 under this section for investment in NPS Scheme. This is in addition to 80CCD (1).
· 80CCD (2): Sec 80CCD(2) deduction for AY 2020-21 can be availed by you if you’re an employee and your employer makes a contribution towards your Contribution of Pension Fund
Download All in One TDS on Salary for Bihar State Govt Employees for the F.Y.2019-20 & Ass Year 2020-21 With H.R.A. Exemption Calculation U/s 10(13A)
The feature of this Excel Utility is the following:-
1) This Excel Utility can prepare automatic Tax Calculation as per new Finance Budget 2019
2) The Salary Structure as per the Bihar State Govt employee’s Salary Pattern
3) Automated Individually Salary Sheet for each Employee
4) Automated Income Tax Salary Sheet for each Employee
5) This Excel Utility calculate your House Rent Exemption Calculation U/s 10(13A)
6) Automated Income Tax Form 16 Part A&B for F.Y. 2019-20 in New Format
7) Automated Income Tax Form 16 Part B for the F.Y. 2019-20 in New Format