# Tax Relief: Section 80CCA Deductions for National Savings Scheme and LIC Deferred Annuity Plans Now Available
Section 80CCA provides deductions for deposits under National Savings Scheme or payments to deferred annuity plans from Life Insurance Corporation. Available to individuals and Hindu Undivided Families, the deduction is limited to the ceiling prescribed under section 80C. No deductions are allowed for deposits made after April 1, 1992. Any withdrawal of deposited amounts or receipt of surrender value/annuity/bonus is taxable as income in the year of withdrawal or receipt. However, amounts withdrawn after August 29, 2024, by individual assessees are exempt from taxation per Finance Act, 2025.