Section 21 - Amendment of section 80DD. - Finance Act, 2022

Amendment of section 80DD. 21. In section 80DD of the Income-tax Act, with effect from the 1st day of April, 2023,- (I) in sub-section (2), for clause (a), the following clause shall be substituted, namely:- (a) the scheme referred to in clause (b) of sub-section (1) provides for payment of annuity or lump sum amount for the benefit of a dependant, being a person with disability,- (i) in the event of the death of the individual or the member of the Hindu undivided family in whose name subscription to the scheme has been made; or (ii) on attaining the age of sixty years or more by such individual or the member of the Hindu undivided family, and the payment or deposit to such scheme has been discontinued; ; (II) after sub-section (3), the following sub-section shall be inserted, namely:- (3A) The provisions of sub-section (3) shall not apply to the amount received by the dependant, being a person with disability, before his death, by way of annuity or lump sum by application of the condition referred to in sub-clause (ii) of clause (a) of sub-section (2). .