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of <h1>Section 88A (now omitted) allowed 20% rebate for investments in specified new equity shares or mutual fund units, three-year hold.</h1> Section 88A, now omitted, formerly granted a tax rebate to individuals and Hindu undivided families for investment in specified new equity shares or mutual fund/Unit Trust units, allowing a deduction equal to 20% of cost subject to an aggregate eligible amount (limited to shares/units up to Rs.25,000 where total cost exceeded that threshold). Eligibility depended on an 'eligible issue of capital' by a public company meeting prescribed business and timing conditions, subscription rules, and approvals; subscriptions could include approved government securities for a limited period. A three-year holding period applied, with recapture of rebates if shares/units were transferred within three years.
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