In a move aimed at encouraging investors to opt for New Pension Scheme
(NPS), the budget 2015-16 proposes an additional deduction (over and above
Section 80C deduction of Rs. 1.5 lac), of Rs 50,000 under Section 80CCD for
contribution made to the new pension scheme.
This is effective the coming financial year April 1, 2015.
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It also plans to enable a legislation that will allow employees to opt for
either Employees Provident Fund ( EPF) or the NPS.
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