‘Atal Pension Yojna’ notified under section 80CCD(1) [Notification No. 7/2016 dated 19-02-2016]

Section 80CCD(1) empowers the Central Government to notify a pension scheme, contribution to which would qualify for deduction in the hands of an individual assessee.

Accordingly, in exercise of the powers conferred by section 80CCD(1), the Central Government has notified the ‘Atal Pension Yojana (APY)’ as published in the Gazette of India, Extraordinary, Part I, Section 1, vide number F. No. 16/1/2015-PR dated 16th October, 2015 as a pension scheme, contribution to which would qualify for deduction under section 80CCD in the hands of the individual.