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of <h1>New Tax Provisions for Agnipath Scheme: Exemptions on Agniveer Corpus Fund Contributions, Deductions u/s 80CCH.</h1> The Agnipath Scheme, 2022, introduced by the Ministry of Defence, enrolls Agniveers in the Indian Armed Forces, effective from November 1, 2022. A non-lapsable Agniveer Corpus Fund is established, where Agniveers contribute 30% of their monthly package, matched by the government, with interest. After four years, Agniveers receive a 'Seva Nidhi' package, tax-exempt under proposed amendments. New tax provisions include exemptions for contributions to the Agniveer Corpus Fund and deductions under section 80CCH, effective April 1, 2023, for the 2023-24 assessment year. The government's contributions are considered part of the Agniveer's salary.
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