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of <h1>Amendment to Section 80CCD: State Government Pension Contributions Now Eligible for Tax Deductions from April 1, 2020.</h1> Clause 20 of the Finance Bill, 2022 amends section 80CCD of the Income-tax Act, allowing deductions for contributions to pension schemes. Previously, only contributions by the Central Government were eligible for deductions. The amendment extends this to include contributions by the State Government, effective from April 1, 2020. The deduction is applicable to contributions not exceeding fourteen percent of the employee's salary by the Central or State Government, and ten percent by other employers, for the assessment year 2020-2021 onwards.
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