Contribution to certain specified Pension Funds of LIC/other insurer.

Contribution to Pension Scheme (NPS) notified by the Central Government subject to following conditions:

1. Deduction under section 80CCD(2) on account of contribution made by the employer to a pension scheme is not subject to ceiling limit of Rs. 1,50,000.

2. Addition deduction of Rs. 50,000 shall not be allowed in respect of contribution which is considered for deduction under Section 80CCD(1), i.e., limit of 10% of salary/gross total income Therefore, in this case, ceiling limit is Rs. 2,00,000.

 80CCG

Amount invested by specified resident individuals in listed shares or listed units in accordance with notified scheme for a lock-in period of 3 years subject to following condition:

Deduction of 50% of total investment subject to maximum of Rs. 25,000 is allowed for 3 consecutive assessment years, beginning with the assessment year relevant to the previous year in which the listed shares or list units of equity oriented funds are first acquired