Equity savings scheme deduction allows partial investment deduction for resident new retail investors subject to income, lock in, and eligibility. Deduction under the equity savings scheme allows a resident individual who is a specified new retail investor to claim fifty per cent of qualifying ... Summary
Equity savings scheme deduction allows partial investment deduction for resident new retail investors subject to income, lock in, and eligibility.
Deduction under the equity savings scheme allows a resident individual who is a specified new retail investor to claim fifty per cent of qualifying investment in listed equity shares or units, subject to an overall cap, for three consecutive assessment years from acquisition; eligibility requires specified investments, a three-year lock-in, income below a prescribed ceiling and compliance with other prescribed conditions, and non-compliance renders the deduction taxable as income, with a statutory sunset and transitional allowance for earlier claimants.
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