Employeeâs contribution â Section 80CCD (1) Allowed to an Individual who makes deposits to his/her Pension account. Maximum deduction allowed is 10% of salary (in case of taxpayer being an employee) or 10% of gross total income (in case of tax payer being self-employed) or Rs 1, 50,000 whichever less is.
This applies to current, former and retired employees. Premiums you pay for employees' group life insurance that is not group term insurance or optional dependent life insurance are also a taxable benefit.
SSDI Monthly Payments. When figuring out what's taxable, SSDI payments are treated like regular Social Security payments and reported to you on Form SSA-1099. So in general, up to 50 percent of your benefits may be taxable each year, plus all your other income (including tax-exempt interest). If the total of one half of your benefits and all your other income for the tax year is over $34,000 if filing single or $44,000 if you are married filing jointly; or. 2  If you are married filing separately and lived with your spouse at any time during the tax year.