4. Sukanya Samriddhi Account Scheme: The budget has good news for the families with girl child. The returns from Sukanya Samridhi Account Scheme will be exempted from income tax. This means the contribution made under this scheme will be allowed with deductions under the section 80C of Income tax in order to focus on the upliftment of girl child in the country.

5. Reforms In Pension Scheme Under Section 80CCC: The limit of deduction on account of contribution towards the pension fund has been proposed 1,50,000. Earlier it was available up to 1,00,000 from the total income of individual.

This is done with the intention to provide the social security conditions in the country. The government’s decision to raise the tax incentive limit for investment in pension scheme will enabled India to become a pensioned society instead of pension less society.

Read More: Post Budget Reactions From The Financial Top Guns Of India

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