We show you detail about section 80C today we are talking about section 80CCC.
Read what is section 80C?
Read What is section 80CCC?
Section 80CCD. Deduction for contribution to pension scheme of Central Government.
Where, the Central Government or any other employer makes any contribution to the employee’s account, the employee shall be allowed a deduction in the computation of his total income. However, the deduction is limited to 10 per cent of his salary in the previous year.
If after claiming the deduction, any amount together with
interest or bonus accrued is received by the assessee or his nominee in whole
or in part, in any previous year, is taxable of the assessee or his nominee, as
the case may be, if it is received–
(a) On account of the closure or opting out of the pension, or
(b) As pension received from the annuity plan purchased or taken on such closure or opting out.
Where any amount paid
or deposited by the assessee has been allowed as a deduction under section
(a) No rebate with reference to such amount shall be allowed under section 88.
(b) No deduction with reference to such amount shall be allowed under section 80C.
Explanation. For the purposes of 80CCD, “salary” includes dearness allowance, if the terms of employment so provide, but excludes all other allowances and perquisites.
Section 80CCE. The aggregate amount of deductions under
section 80C, section 80CCC and section 80CCD shall not, in any case, exceed Rs.