My employer contributes to the pension fund every year for its employees. I went on EOL(Extra Ordinary Leave) for 2years on employment abroad and I rejoined again. During the 2years EOL period, I contributed towards the pension fund from my salary.. Am I eligible for deduction u/s 80CCC for my personal contribution towards pension fund. Please clarify.
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Deduction u/s 80ccc
Replies (2)
Mr.Lourdu Kishore Pragada
Section 80CCC starts with the words-
"Where an assessee being an individual has in the previous year paid or dedposited any amount out of his income chargeable to tax to effect or keep in force a contract for any annuity plan ----"
You have said that you have contributed out of your salary towards pension fund. If your salary for the period under consideration is chargeable to tax, the contribution made by you is eligible for deduction u/s 80CCC"
Best Wishes
Sathikonda
| Originally posted by : sathikonda | ||
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Mr.Lourdu Kishore Pragada Section 80CCC starts with the words- "Where an assessee being an individual has in the previous year paid or dedposited any amount out of his income chargeable to tax to effect or keep in force a contract for any annuity plan ----" You have said that you have contributed out of your salary towards pension fund. If your salary for the period under consideration is chargeable to tax, the contribution made by you is eligible for deduction u/s 80CCC" Best Wishes Sathikonda |
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