Answer-The Atal Pension Yojana (APY) is a contribution-based pension scheme. Which of the following stateme...

While contributions to APY are eligible for deductions under Section 80CCD, they are not fully exempt from income tax. The scheme follows similar tax benefits as NPS.

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The Atal Pension Yojana (AP

Y is a contribution-based pension scheme. Which of the following statements incorrectly describes the tax benefits associated with APY contributions?

A Contributions to APY are eligible for tax deductions under Section 80CCD of the Income Tax Act.

B Contributions made to APY are fully exempt from income tax.

C The maximum deduction available for APY contributions is ₹50,000 under Section 80CCD(1B).

D APY contributions can be claimed as part of overall deductions under Section 80C and 80CCD.

E The tax benefits are similar to those available under the National Pension Scheme (NPS).

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The Atal Pension Yojana (AP

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