Pension contribution deduction expanded with an additional capped deduction for eligible individual assessees under notified schemes. The amendment inserts a new supplementary deduction permitting an assessee already eligible under the primary contribution deduction to claim an ... Summary
Pension contribution deduction expanded with an additional capped deduction for eligible individual assessees under notified schemes.
The amendment inserts a new supplementary deduction permitting an assessee already eligible under the primary contribution deduction to claim an additional deduction for amounts paid or deposited in a notified Central Government pension account in the previous year, subject to a prescribed monetary ceiling and the prohibition on claiming the same contribution under both deduction heads; consequential cross reference amendments align related subsections to refer to both deductions.
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