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of <h1>Finance Bill 2017: Amendment to Section 80CCD doubles pension contribution deduction limit from 10% to 20% of income.</h1> Clause 33 of the Finance Bill, 2017, proposes an amendment to section 80CCD of the Income-tax Act, which pertains to deductions for contributions to the Central Government's pension scheme. This amendment increases the deduction limit for individuals, other than employees, from ten percent to twenty percent of their gross total income. The amendment applies from April 1, 2018, affecting the assessment year 2018-2019 and subsequent years. This change aims to enhance the tax deduction benefits for eligible individuals contributing to the specified pension schemes.
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