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Deduction u/s 80CCC - Deduction in respect of contribution to pension fund

Income Tax - Exemptions and Deductions - 07 - SECTION 80CCC Persons Covered: Deduction is available to individual only. Eligible Amount: Deposit or payment made to LIC or any other insurer in the approved annuity plan for receiving pension Relative C .....

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80CCC can only be claimed in the year in which the amount has been paid. Taxability Any amount withdrawn or pension received from the plan is taxable in the hands of the assessee or nominee in the year of receipt as per the Income Tax Slabs of the ta .....

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