Clause 30 - Amendment of section 80CCD - Finance (No. 2) Bill, 2009

Amendment of section 80CCD. 30. In section 80CCD of the Income-tax Act,— (a) in sub-section (1), in the opening portion, after the words, figures and letters "Where an assessee, being an individual employed by the Central Government or any other employer on or after the 1st day of January, 2004,", the words "or any other assessee, being an individual" shall be inserted; (b) after sub-section (4), the following sub-section shall be inserted, namely:— "(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.".