Amendment of section 80CCD.
17. In section 80CCD of the Income-tax Act, with effect from the 1st April, 2026,—
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in sub-section (1B), after the proviso, the following proviso shall be inserted, namely:— |
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"Provided further that the deduction under this sub-section shall also be allowed, where any payment or deposit is made to the account of a minor under the pension scheme referred to in the said sub-section, by the assessee, being the parent or guardian of such minor, subject to the condition that the aggregate amount of deduction under this sub-section shall not exceed fifty thousand rupees."; |
| (b) |
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in sub-section (3),— |
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in the opening portion, for the words "in his account", the words "or a minor, in his account or the account of a minor, as the case may be," shall be substituted; |
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after the proviso, the following proviso shall be inserted, namely:— |
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"Provided further that the amount received by a person, being the parent or guardian or nominee of a minor, on account of closure of the pension scheme referred to in sub-section (1B) due to the death of the minor, shall not be deemed to be the income of such person."; |
| (c) |
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in sub-section (4), in the opening portion, after the words "Where any amount paid or deposited by the assessee", the words "in his account or the account of a minor" shall be inserted. |
