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of <h1>Section 80CCD allows tax deductions for pension scheme contributions with specific limits for employees and self-employed individuals</h1> Section 80CCD provides income tax deductions for contributions to the Central Government's pension scheme. Individual employees and self-employed persons can claim deductions under Section 80CCD(1) up to 10% of salary for employees and 20% of gross income for others, with a maximum limit of Rs. 1,50,000. Section 80CCD(1B) allows additional deduction of Rs. 50,000 for notified pension scheme contributions. Employer contributions under Section 80CCD(2) are deductible up to 10-14% of salary. Upon scheme closure, 60% of received amount is exempt while 40% is taxable. The provision applies only to individuals, not other entities.
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