The Income Tax Act of 1961, is an act to levy, monitor and collect income tax in India. There are various sections in the IT act that allow for tax deduction when a person has contributed to the national pension scheme (NPS) and Atal Pension Yojna (APY). Sec 80C, Sec 80CCC and Sec 80CCD allow for tax deduction of upto Rs.1,50,000. Around 4 years back, a new sub section called 80CCD(1B) was also...
- 4 days ago