Amendment of section 80CCG

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..... uch equity shares , the words or units shall be inserted; (b) for sub-section (2), the following sub-section shall be substituted, namely: (2) The deduction under sub-section (1) shall be allowed in accordance with, and subject to, the provisions of this section for three consecutive assessment years, beginning with the assessment year relevant to the previous year in which the listed equity share .....

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..... vide that a resident individual who has acquired listed equity shares, in accordance with the scheme notified by the Central Government, shall be allowed a deduction of fifty per cent. of the amount invested in such equity shares to the extent that the said deduction does not exceed twenty-five thousand rupees. Sub-section (2) provides that the deduction is a onetime deduction and is available onl .....

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..... fund were first acquired. It is also proposed to amend sub-section (3) of the said section so as to enhance the limit of gross total income to twelve lakh rupees from the existing limit of ten lakh rupees. It is also proposed to insert an Explanation in the said section so as to provide that equity oriented fund shall have the meaning assigned to it in Explanation to clause (38) of section 10. Th .....

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