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of <h1>Tax Deduction Benefits Extended to Parents Contributing to Pension Schemes for Minors Under Section 80CCD</h1> The amendment to section 80CCD of the Income-tax Act, effective April 1, 2026, extends tax deduction benefits to parents or guardians making contributions to pension schemes for minors. The deduction limit remains fifty thousand rupees. The amendment clarifies that amounts in minor accounts are included in provisions regarding withdrawals and closures. Additionally, amounts received by parents, guardians, or nominees upon closure of a minor's pension scheme due to death will not be considered taxable income. The amendment also modifies language throughout the section to explicitly include accounts held by minors within its scope.
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