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of <h1>Finance Bill 2011: Section 36 Amended to Allow 10% Pension Contribution Deduction for Employers from April 2012</h1> Clause 7 of the Finance Bill, 2011, amends section 36 of the Income-tax Act to introduce a new clause (iva) in sub-section (1). Effective from April 1, 2012, this amendment allows employers to deduct contributions made to a pension scheme under section 80CCD, up to 10% of an employee's salary, from their taxable income. 'Salary' for this purpose includes dearness allowance but excludes other allowances and perquisites. This amendment applies to the assessment year 2012-2013 and subsequent years, enhancing deductions related to employee pension contributions.
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