Effect of failure to fulfil conditions

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..... shall be deemed to be the income of the assessee of the previous year in which he fails to comply with the provisions of the Scheme and shall be liable to tax for the assessment year relevant to such previous year. (2) Without prejudice to the provisions of sub-paragraph(1), where the demat account is not in compliance with the conditions laid down in paragraph 7 in respect of flexible lock-in p .....

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..... io of the eligible securities in respect of which the deduction was allowed for the two assessment years for 270 days in the flexible lock-in period, the deduction allowed to the investor under section 80CCG for the other assessment year shall be liable to tax; (ii) is not covered by sub-clause (i), the aggregate deduction allowed to the investor under section 80CCG for both the years shall be li .....

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