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of <h1>Finance Bill 2019 amends section 80CCD, raising Central Government pension contribution deduction from 10% to 14%. Effective April 2020.</h1> Clause 24 of the Finance (No. 2) Bill, 2019 amends section 80CCD of the Income-tax Act, which pertains to deductions for contributions to the Central Government pension scheme. The amendment modifies sub-section (2) to allow a deduction for contributions made by the Central Government up to fourteen percent of the employee's salary, compared to the previous ten percent limit. Contributions made by any other employer remain capped at ten percent. This change is effective from April 1, 2020, and applies to the assessment year 2020-2021 and subsequent years.
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