ADDTIONAL RS 50000 SAVINGS TO CPS EMPLOYEES IT DEPT CLARIFICATION

ADDTIONAL RS 50000 SAVINGS TO CPS EMPLOYEES IT DEPT CLARIFICATION

As per above act if  the savings u/s 80C is 150000 or above then    CPS amount is to be taken u/s 80CCD (1B) up to Rs.50000/-  additional to  the u/s 80C

if the savings below  Rs.150000/- u/s 80C then CPS amount  split and taken from that how much amount is less to 150000/  to be  considered u/s  80CCD(1),the remaining amount of CPS goes u/s 80CCD(1B) up to 50000/-