TaxTMI 
TaxTMI 
TaxTMI 
Deduction in respect of employer and assessee contribution to pension scheme of Central Government.
X X X X Extracts X X X X
X X X X Extracts X X X X
....yer, if the employer makes any contribution in his account under a pension scheme notified by the Central Government, the assessee shall be allowed a deduction in the computation of his total income, of the whole of the amount contributed by such employer as does not exceed- (a) 14%, where such contribution is made by the employer being the Central Government or the State Government; and (b) 1....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t or deposit is made to the account of a minor under the said pension scheme, by the assessee, being the parent or guardian of such minor, subject to the condition that the aggregate amount of deduction under sub-section (3) and this sub-section shall not exceed Rs. 50000. (5) No deduction under 1[sub-sections] (3) and (4) shall be allowed in respect of the amount on which a deduction has been cl....
X X X X Extracts X X X X
X X X X Extracts X X X X
...., and shall accordingly be charged to tax as income of that tax year. (7) The amount received by the nominee, on the death of the assessee, under the circumstances referred to in sub-section (6)(a), shall not be deemed to be the income of the nominee. (8) The amount received by a person, being the parent or guardian or nominee of a minor on account of closure of the pension scheme, due to the de....
X X X X Extracts X X X X
X X X X Extracts X X X X
....y the assessee or his nominee, in whole or in part, in any tax year on account of his superannuation or voluntary retirement or retirement under Fundamental Rules 56(j) (which is not treated as penalty under the Central Civil Services (Classification, Control and Appeal) Rules, 1965), the whole of the amount shall be deemed to be the income of the assessee or his nominee, as the case may be, in th....