Important Points for IC 83 - Group Insurance and Retirement Benefit Schemes Exam
Page 15 Of 49
Go to:
Section 80CCA deals with the deduction in respect of deposits under National Savings Scheme or payment to a deferred annuity plan.
Section 80CCC: Deduction in respect of contribution to certain pension funds: Where an assessee being an individual has in the previous year paid or deposited any amount out of his income chargeable to tax to effect or keep in force a contract for any annuity plan of Life insurance corporation of India for receiving pension from the fund referred to in clause of section 10, he shall, in accordance with, and subject to, the provisions of this section, be allowed a deduction in the computation of his total income, of the whole of the amount paid or deposited as does not exceed the amount of rupees in the previous year.
Section 80CCD deals with deduction in respect of contribution to pension scheme of Central Government.
Section 80CCE: The aggregate amount of deductions under section 80C, Section 80CCC and shall not, in any case, exceed.
In March 2005 the Institute of Chartered Accountants of India has revised Accounting Standard. The scope of revised Accounting Standard(AS)-15, 'Accounting for Retirement Benefits'.
MODELEXAM® 
www.realsoftinfoplan.com