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of <h1>Amendment to Section 80CCD: Pension Scheme Deductions Capped at One Lakh Rupees, Effective April 1, 2015.</h1> Clause 28 of the Finance (No. 2) Bill, 2014 amends section 80CCD of the Income-tax Act concerning deductions for contributions to the Central Government pension scheme. Previously, individuals employed by the Central Government or any other employer from January 1, 2004, could claim deductions up to ten percent of their salary, subject to a limit of one lakh rupees under section 80CCE. The amendment specifies that individuals employed by the Central Government or any other employer are eligible for this deduction, and introduces sub-section (1A), capping the deduction at one lakh rupees. These changes apply from April 1, 2015, for the assessment year 2015-16 onwards.
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