Dear All,
We have implemented note 2168787 and post that limit of CENTRAL GOVERNMENT PENSION LIMIT has been extended to 2,00,000 in IT0585 (80CCD(1B)).
I maintained data IT0585 and IT0586 as per the attachment but in FORM 16, under 80CCD, system considers only Rs. 50,000. It should be Rs. 80,000/-
and Chapter VI amount should be 2,35,000 (not 2,05,000).
Please help me to understand that calculation.
Best Regards,
RG
Hi,
Earlier inside chapter VI you will get 1.5 lacs but now as per new regulation you can get extra 50k exemption against Pension scheme
In your case it's happening.
Go through below link you will get an idea.
https://cleartax.in/Guide/Section80Deductions
Regards
Venkatesh
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