Clause (iva) of sub-section (1) of section 36 is amended to ...

Employer's pension contribution deductible up to 14% of employee's salary from AY 2025-26. Sec 80CCD amended for higher deduction.

Notes Bill

August 3, 2024

Clause (iva) of sub-section (1) of section 36 is amended to increase the deduction for employer contribution to a pension scheme u/s 80CCD from 10% to 14% of the employee's salary in the previous year. Sub-section (2) of section 80CCD is amended to allow deduction up to 14% of the employee's salary for contribution by non-government employers, where the employee's salary is chargeable u/s 115BAC(1A). The amendments are effective from April 1, 2025 and applicable from assessment year 2025-2026 onwards.

View Source

← Previous Next →

Clause (iva) of sub-section (1) of section 36 is amended to ...

Employer's pension contribution deductible up to 14% of employee's salary from AY 2025-26. Sec 80CCD amended for higher deduction.

Notes Bill

August 3, 2024

You may also like:

Deduction on salary and family pension enhanced for taxpayers opting for new tax regime. Standard deduction on salary increased from fifty thousand to seventy five...

Disallowance for late payment of employees contribution to ESI and PF - The respective enactment has although provided deterrent to the employer in the form of interest...

The provident fund dues, including contributions u/s 7A, interest u/s 7Q, and damages u/s 14 of the EPF Act, are not part of the liquidation estate assets. The EPFO...

Car lease facility provided by employer to employees does not qualify as perquisite if employer recovers exact lease amount from employees' salaries; it constitutes...

TDS u/s 192 - employee of Mahatma Gandhi University, kerala - The salary, pension and retirement benefits are paid from the consolidated fund of the state government...

Deduction u/s 43B / 36(1) - At least with respect to the employee's contributions, which the employer deducts from the salary of the employees, if it is not remitted...

Levy of GST - payment of notice pay by an employee to the applicant employer in lieu of notice period, under clause 5(e) of Schedule II of CGST Act - GST is not...

Validity of Resolution plan - the Appellant - 'Sales Tax Department' claim an Operational Creditor cannot equated with the ESIC Employees Contribution; ESIC Employers...

TDS u/s 192 or 195 - reimbursement of salary of employees seconded - The employees to whom the part salary were paid by Serco UK on behalf of the Assessee, have...

Disallowance of sales tax liability - Prior-period item - the year under appeal is AY 2013-14. The alleged amount pertains to AY 2005-06 and AY 2010-11 and such...

Substitution of new section for section 80JJAA- Deduction in respect of employment of new employees. - Deduction under the proposed provisions will be available in...

The delayed deposit of employees' share of contributions towards ESIC and EPF by the assessee beyond the due dates prescribed under the respective Acts would constitute...

Supply of service or not - bus transportation facility provided to the employees - perquisites provided by the ‘employer’ to the ‘employee’ in terms of contractual...

TDS - u/s 194J and u/s 195 - payment by way of reimbursement to member companies, allowances paid to resident and non-resident personnel and payment to foreign agents -...

Man Power Recruitment and Supply Agency Service - reverse charge mechanism (RCM) - the appellants have issued Form-16 series to the said employees as their employer and...

Quick Updates: