Individuals Pension
Schemes:
Income Tax Deductions, Changes in Budget 2015-16
|
Income Tax Section
|
Current Provision (2014-15)
|
Proposed Provision (2015-16)
|
|
80CCC
Deduction in
respect of contribution to certain pension funds of LIC of India or IRDA
|
Rs.
1,00,000
|
Rs. 1,50,000
|
|
80CCD
Deduction in
respect of contribution by an employee/individual to pension scheme of the
Central Government (NPS)
|
Rs.
1,00,000
|
Rs. 1,50,000 + additional Rs. 50,000
|
|
80CCD
(1B)
Deduction in
respect of contribution by an employee/individual to pension scheme of the
Central Government (NPS)
|
-
|
additional Rs. 50,000
|
No comments:
Post a Comment