Deduction under section 80CCG: eligibility requires three-year lock-in, yearly investment cap and Form B declarations to claim. Eligibility for the Rajiv Gandhi Equity Savings Scheme is confined to a new retail investor investing in eligible securities within a three year block beginning with an initial year; the deductible amount per financial year is subject to a cap. Investments may be made in multiple transactions, may skip a year within the block, and once claimed cannot be claimed again for another assessment year. Eligible securities in the demat account are subject to a three year lock in and an initial fixed lock in unless excluded via Form B; non compliance with lock in or Scheme conditions leads to withdrawal of the deduction.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deduction under section 80CCG: eligibility requires three-year lock-in, yearly investment cap and Form B declarations to claim.
Eligibility for the Rajiv Gandhi Equity Savings Scheme is confined to a new retail investor investing in eligible securities within a three year block beginning with an initial year; the deductible amount per financial year is subject to a cap. Investments may be made in multiple transactions, may skip a year within the block, and once claimed cannot be claimed again for another assessment year. Eligible securities in the demat account are subject to a three year lock in and an initial fixed lock in unless excluded via Form B; non compliance with lock in or Scheme conditions leads to withdrawal of the deduction.
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