Taxation of disallowed deductions: deduction under equity savings scheme treated as income if scheme conditions are not met. If a new retail investor fails to fulfil the Scheme's provisions, the deduction originally allowed under section 80CCG shall be deemed to be the income of ... Summary
Taxation of disallowed deductions: deduction under equity savings scheme treated as income if scheme conditions are not met.
If a new retail investor fails to fulfil the Scheme's provisions, the deduction originally allowed under section 80CCG shall be deemed to be the income of the assessee of that previous year and liable to tax for the assessment year relevant to that previous year.
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