Pension contribution deduction expanded for individual non-employees, increasing the allowable share of gross total income that may be deducted. The amendment raises the ceiling on deductions for contributions by individuals other than employees to Central Government-notified pension schemes from ten per cent of gross total income to twenty per cent of gross total income, effective from 1st April, 2018, thereby increasing the deductible limit under the provision governing pension scheme contributions.
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Pension contribution deduction expanded for individual non-employees, increasing the allowable share of gross total income that may be deducted.
The amendment raises the ceiling on deductions for contributions by individuals other than employees to Central Government-notified pension schemes from ten per cent of gross total income to twenty per cent of gross total income, effective from 1st April, 2018, thereby increasing the deductible limit under the provision governing pension scheme contributions.
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