Para 8 - Liable to Tax for the Assessment Year - Rajiv Gandhi Equity Savings Scheme, 2012

1 [Liable to Tax for the Assessment Year 8. If the new retail investor fails to fulfil any of the provisions of the Scheme, the deduction originally allowed to him under sub-section (1) of section 80CCG of the Act for any previous year, shall be deemed to be the income of the assessee of such previous year and shall be liable to tax for the assessment year relevant to such previous year. ] ----------------------- Notes:- 1. Inserted vide Notification No. 51/2012, dated 23/11/2012