I have no problem overprovisioning a PSU a bit. Say 20%.
It will run cooler, quieter, and more efficiently in the middle third of it's range.
A PSU will only use the wattage demanded of it, regardless of it's max capability.
Considering the Core i5-4460 costs $20 more for 100MHz, it is not worth spending money on that incremental increase especially since you will not see / feel any difference.
for budget build what cpu should i pick and do i5 4440 and 4460 bottleneck it
What is your budget?
Is this intended to be a gaming pc or what?
You would see little difference in actual usage from the stronger 4460.
But your cpu budget is large enough to move it from the budget category.
What did you have in mind for the rest of your parts, particularly the graphics card?
I would buy the Core i5 4440 and here's why.... You can get a cheap H81 motherboard to go with it and you won't have to worry about compatibility. Also the Core i5 4440 is much cheaper than the 4460 and it delivers pretty much the same performance.
I think your budget will buy you a $210 i5-4690K and a $330 GTX970 which is about as good as it gets for gaming.
A Z97 based motherboard will be about $130, 8gb of ram about $75.
A good psu in the $80 range and a case for $50-$100.
I have no problem overprovisioning a PSU a bit. Say 20%.
It will run cooler, quieter, and more efficiently in the middle third of it's range.
A PSU will only use the wattage demanded of it, regardless of it's max capability.