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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Amendment to Section 7 of Income-tax Act: Recognizing Govt Contributions to Employee Pension Schemes Under Sec 80CCD.</h1> In the Finance (No. 2) Act, 2004, an amendment to section 7 of the Income-tax Act introduces a new clause. This clause specifies that contributions made by the Central Government in the previous year to an employee's account under a pension scheme, as mentioned in section 80CCD, will be recognized. This amendment pertains to direct taxes and aims to clarify the tax treatment of government contributions to employee pension schemes.
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