Amendments expand deductions to listed units of equity oriented funds, allow three-year relief and raise the limit to twelve lakh. The amendment adds listed units of an equity oriented fund to qualifying investments for the specified tax deduction, allows the deduction for three consecutive assessment years beginning with the assessment year of first acquisition, raises the monetary ceiling in the relevant clause from ten lakh rupees to twelve lakh rupees, and inserts an Explanation defining 'equity oriented fund' by reference to the income-tax Explanation.
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Provisions expressly mentioned in the judgment/order text.
Amendments expand deductions to listed units of equity oriented funds, allow three-year relief and raise the limit to twelve lakh.
The amendment adds listed units of an equity oriented fund to qualifying investments for the specified tax deduction, allows the deduction for three consecutive assessment years beginning with the assessment year of first acquisition, raises the monetary ceiling in the relevant clause from ten lakh rupees to twelve lakh rupees, and inserts an Explanation defining "equity oriented fund" by reference to the income-tax Explanation.
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