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.