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Question - What the proposed additional deduction under 80CCD in Finance Bill 2015 ?
Additional deduction under 80CCD
28 Feb 2015 
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Additional NPS deduction expands individual tax deductions for personal contributions under the national pension system, encouraging greater participation.
The proposal removes the existing monetary cap on the primary deduction for individual contributions to the National Pension System and adds a new separate additional deduction for personal NPS contributions, limited to fifty thousand rupees, while preserving employer contribution deductions under existing percentage-based rules; consequential amendments align related subsections and the changes take effect from the fiscal year beginning 1st April, 2016. (AI Summary)
The proposal removes the existing monetary cap on the primary deduction for individual contributions to the National Pension System and adds a new separate additional deduction for personal NPS contributions, limited to fifty thousand rupees, while preserving employer contribution deductions under existing percentage-based rules; consequential amendments align related subsections and the changes take effect from the fiscal year beginning 1st April, 2016. (AI Summary)