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of <h1>Amendment to Section 80C: Central Government Employees Can Claim Deductions for Pension Contributions Under Section 80CCD</h1> Clause 23 of the Finance (No. 2) Bill, 2019 amends section 80C of the Income-tax Act to allow Central Government employees to claim deductions for contributions to a specified pension scheme account under section 80CCD. The contribution must be for a minimum of three years and comply with a scheme notified by the Central Government. The term 'specified account' is defined as an additional account under section 20(3) of the Pension Fund Regulatory and Development Authority Act, 2013. These changes are effective from April 1, 2020, applicable for the assessment year 2020-2021 onwards.
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