# The Finance Act, 2015, Section 18: Amendment of section 80CCD

- Act: The Finance Act, 2015 (Act 20 of 2015)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2015/section/18/

## Text

Amendment of section 80CCD. 18. In section 80CCD of the Income-tax Act, with effect from the 1st day of April, 2016,— (a) | sub-section (1A)shall be omitted; (b) | after sub-section (1A), as so omitted the following sub-section shall be inserted, namely:— "(1B)An assessee referred to in sub-section (1), shall be allowed a deduction in computation of his total income, whether or not any deduction 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);" (c) | in sub-section (3),— (I) | for the words, brackets and figure "sub-section (1)", wherever they occur, the words, brackets, figures and letter "sub-section (1) or sub-section (1B)" shall be substituted; (II) | for the words "under that sub-section", the words "under those sub-sections" shall be substituted; (d) | in sub-section (4), for the words, brackets and figure, "sub-section (1)", the words, brackets, figures and letter "sub-section (1) or sub-section (1B)" shall be substituted.

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