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of <h1>Section 80CCG: 50% deduction (max ?25,000) for three years under equity savings scheme for new investors with income =?12 lakh</h1> A resident individual who acquires listed equity shares or listed units of an equity-oriented fund under a government-notified equity savings scheme may claim a deduction equal to 50% of the investment, subject to a maximum of ?25,000, for three consecutive assessment years beginning with the year of acquisition. Eligibility requires gross total income not exceeding ?12 lakh, classification as a new retail investor, investment in specified instruments, a three-year lock-in, and other prescribed conditions. Failure to meet conditions results in the deduction being taxed as income for the year of default. The deduction was withdrawn for assessment years commencing on or after 1 April 2018, with a transitional allowance for earlier claimants.
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