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Additional NPS deduction in Union Budget 2015 - 2016

former_member350573
Participant
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Dear Friends ,

Based on the Union Budget changes , I understand for an individual tax payer there is an additional 50,000 under 80CC . Is there any note released by SAP for this ?

If there is no note and it has to be through 587 , please explain the steps of how this calculation gets affected.,

regards

Sandhya

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Hi Sandhya,

SAP has released a Note for the Introduction of NPS amount which will be getting exempted above 1,50,000 and it comes under Sec 80CCD(1B).

SAP Note: 2168787 - Additional Deduction Under Section 80CCD(1B).

Hope this will help you.

Thanks & Regards

Saroj Hial

former_member350573
Participant
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Hi Saroj ,

Thanks for the information . I tried to search for the note . It is giving me a message Document is not released.

Are you able to open it ?

regards

Sandhya

Former Member
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Hi Sandhya

Yes, we have applied the note and also there will be a manual correction Pdf. you have do the configuratin changes as per the manual document.

Thanks & Regards

Saroj Hial

former_member350573
Participant
0 Kudos

Hi Saroj,

unfortunately , I am not able to download  or open it . The message I get is note is incomplete . Is there any pre requisite note to be downloaded prior to this?

regards

Sandhya

former_member182083
Active Contributor
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Hi Sandhya,

This note is in Pilot release and it is under testing by Pilot customer, which is the reason I have told you this note will be released shortly in my previous reply. Kindly wait this note will be released for all the customer shortly, then you will able to find this note and apply it.

With Regards,

S.Karthik

former_member350573
Participant
0 Kudos

Hi Karthik ,

I thought the same when I was unable to download it via snote. But the fact that our friend Saroj was able to download and apply the same , I was wondering if I was doing something wrong . Will wait for the note to be released. Thanks for the clarification

former_member350573
Participant
0 Kudos

Saroj,

Thanks a lot for the information.

Former Member
0 Kudos

Hi Saroj,

I have done all changes related to note but it is not exempting more than 1,50,000 in aggregate chapter IV

please do needful

Answers (1)

Answers (1)

former_member182083
Active Contributor
0 Kudos


Hi Sandhya,

You need to do through IT 587 for NPS. For additional 50,000 over to 1,50,000, SAP will be releasing the note shortly, you can apply and get the changes.

With regards,

S.Karthik