Section 27DB: Contribution to approved personal pension schemes
This section is inserted by Act No 15 of 2021, section 38.
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
27DB. Contribution to approved personal pension schemes
Where, in an income year, an individual has contributed
to an individual pension scheme approved by the Financial
Services Commission under the Insurance Act for the
provision of a pension for himself, he shall be entitled to
deduct from his net income for that income year, the amount
contributed or 30,000 rupees, whichever is lower.
(e) in sections 27C(1), 27E(1) and 27H(1), by deleting the words
“and 27D” and replacing them by the words “27D, 27DA and
27DB”;
338 Acts 2021
(f) by inserting, after section 27H, the following new section –
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Questions this section answers
- What is the maximum amount I can deduct from my income for contributions to an approved personal pension scheme?