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TMI BlogDeduction in respect of contribution to pension scheme of Central Government- Section 80CCDX X X X Extracts X X X X X X X X Extracts X X X X ..... n Scheme (NPS) and Atal Pension Yojana (APY) is deductible in the year in which contribution is made. * Limit up to 10% of the salary of the employee * Limit up to 20% of GTI in the case of any other individual * Maximum limit of deduction is Rs. 1,50,000 (see Section 80CCE). Section 80CCD(1B) [Additional deduction] * An employee or individual, shall be allowed a deduction in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14% where such contribution made by CG or SG (w.r.e.f. AY 202-21) * 10% where such contribution is made by any other employer * [ w.e.f. 01.04.2025 ] where the total income of the assessee is chargeable to tax u/s 115BAC(1A), * Contribution by an employer towards NPS is deductible in the hands of the concerned employee in the year in which contribution is made. * Limit up to 14% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m Trust to an employee under the pension scheme referred to in section 80CCD, on partial withdrawal made out of his account in accordance with the terms and conditions, specified under the Pension Fund Regulatory and Development Authority Act, 2013 and the regulations made thereunder, to the extent it does not exceed twenty-five per cent. of the amount of contributions made by him. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the pension scheme * (b) as pension received from the annuity plan purchased or taken on such closure or opting out * The amount received by the nominee, on the death of the assessee, under the circumstances referred to in clause (a), shall not be deemed to be the income of the nominee. Note: * The Total Tax deduction under Section 80C and 80CCD combined together cannot exceed Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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