80CCD. [ Deduction in respect of contribution to pension scheme of Central Government. [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).]
(1)Where an assessee, being an individual ] [ Substituted by Act 18 of 2005, Section 22, for sub-Section (3) (w.e.f. 1.4.2006).][employed by the Central Government or any other employer] [ Substituted by Act 22 of 2007, Section 25 for " employed by the Central Government" (w.r.e.f. 1.4.2004).][on or after the 1st day of January, 2004 ] [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).][or any other assessee, being an individual] [ Inserted by Act 33 of 2009, Section 30(a)(i) (w.e.f. 1.4.2009).][, has in the previous year paid or deposited any amount in his account under a pension scheme notified or as may be notified by the Central Government, he shall, in accordance with, and subject to, the provisions of this section, be allowed a deduction in the computation of his total income, of the whole of the amount so paid or deposited ] [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).][as does not exceed,-(a)in the case of an employee, ten per cent. of his salary in the previous year; and(b)in any other case, ten per cent. of his gross total income in the previous year].[***] [Omitted '1A' by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.].(1B)[ An assessee referred to in sub-section (1), shall be allowed a deduction in computation of his total income, whether or not any deductions is allowed under sub-section (1), of the whole of the amount paid or deposited in the previous year in his account under a pension scheme notified or as may be notified by the Central Government, which shall not exceed fifty thousand rupees:Provided that no deduction under this sub-section shall be allowed in respect of the amount on which a deduction has been claimed and allowed under sub-section (1).] [Inserted by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.](2)[ Where, in the case of an assessee referred to in sub-section (1), the ] [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).][Central Government or any other employer] [ Substituted by Act 22 of 2007, Section 25, for " Central Government" or the State Government.][makes any contribution to his account referred to in that sub-section, the assessee shall be allowed a deduction in the computation of his total income, of the whole of the amount contributed by the ] [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).][Central Government or any other employer] [Substituted by Act 22 of 2007, Section 25, for " Central Government" [or the State Government] (w.r.e.f. 1.4.2004).][as does not exceed ten per cent. of his salary in the previous year.(a)fourteen per cent, where such contribution is made by the Central Government [or the State Government];(b)ten per cent, where such contribution is made by any other employer,(3)Where any amount standing to the credit of the assessee in his account referred to in [sub-section (1) or sub-section (1B)] [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).] , in respect of which a deduction has been allowed [under those sub-sections] [Substituted 'under that sub-section' by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.] or sub-section (2), together with the amount accrued thereon, if any, is received by the assessee or his nominee, in whole or in part, in any previous year,-(a)on account of closure or his opting out of the pension scheme referred to in [sub-section (1) or sub-section (1B)] [Substituted 'sub-section (1)' by Finance Act, 2015 (No. 20 of 2015), dated 14.5.2015.]; or(b)as pension received from the annuity plan purchased or taken on such closure or opting out, the whole of the amount referred to in clause (a) or clause (b) shall be deemed to be the income of the assessee or his nominee, as the case may be, in the previous year in which such amount is received, and shall accordingly be charged to tax as income of that previous year. ](4)[ Where any amount paid or deposited by the assessee has been allowed as a deduction under [sub-section (1) or sub-section (1B)] [ Substituted by Act 18 of 2005, Section 23, for sub-Section (4) (w.e.f. 1.4.2006).],-(a)no rebate with reference to such amount shall be allowed under section 88 for any assessment year ending before 1st day of April, 2006;(b)no deduction with reference to such amount shall be allowed under section 80-C for any assessment year beginning on or after the 1st day of April, 2006.(5)[ For the purposes of this section, the assessee shall be deemed not to have received any amount in the previous year if such amount is used for purchasing an annuity plan in the same previous year.] [ Inserted by Act 33 of 2009, Section 30(b) (w.e.f. 1.4.2009).][Explanation. - For the purposes of this section, "salary" includes dearness allowance, if the terms of employment so provide, but excludes all other allowances and perquisites. ] [Inserted by Act 23 of 2004, Section 15 (w.e.f. 1.4.2004).]
