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CBDT notifies ‘NPS Tier II- Tax Saver Scheme, 2020’ for Sec. 80C deduction

July 10, 2020
To enable more options for tax saving, clause (xxv) is added in Section 80C by the Finance (No. 2) Act, 2019 so as to provide deduction in respect of contribution made to notified pension scheme by a Central Government employee. The CBDT has notified National Pension Scheme Tier II- Tax Saver Scheme, 2020 for the purpose of said clause. The lock in period under the scheme shall be three years from the date of credit of amount.
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