Deduction in respect of investment made under an equity savings scheme.

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..... n equity oriented fund] in accordance with a scheme, as may be notified by the Central Government in this behalf, he shall, subject to the provisions of sub-section (3), be allowed a deduction, in the computation of his total income of the assessment year relevant to such previous year, of fifty per cent of the amount invested in such equity shares 3 [or units] to the extent such deduction does .....

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..... equity oriented fund] as may be specified under the scheme referred to in sub-section (1); (iv) the investment is locked-in for a period of three years from the date of acquisition in accordance with the scheme referred to in sub-section (1); and (v) such other condition as may be prescribed. (4) If the assessee, in any previous year, fails to comply with any condition specified in sub-s .....

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..... ril, 2019, if he is otherwise eligible to claim the deduction in accordance with the other provisions of this section.] 7 [ Explanation .-For the purposes of this section, equity oriented fund shall have the meaning assigned to it in the Explanation to clause (38) of section 10.] ********** Notes:- 1. Inserted vide Finance Act, 2012, w.e.f. 01-04-2013. 2. Ins .....

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