Increase in amount allowed as deduction to non-government employers and their employees for employer contribution to a Pension Scheme referred in section 80CCD

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..... ting the income under the head Profits and gains of business or profession . Clause (iva) of sub-section (1) of said section states that any sum paid by the assessee as an employer by way of contribution towards a pension scheme, as referred to in section 80CCD of the Act , on account of an employee, to the extent it does not exceed ten per cent of the salary of the employee in the previous year, .....

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..... by any other employer) of the employees salary in previous year. 4. It is proposed to amend sub-section (2) of section 80CCD of the Act , to provide that where such contribution has been made by any other employer (not being Central Government or State Government), the employee shall be allowed as a deduction an amount not exceeding 14% of the employee s salary. This is being increased only in the .....

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