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of <h1>Tax Breaks for Strategic Equity Investments: 50% Deduction on Specific Public Company Shares Under Section 80CC</h1> Section 80CC of the Income Tax Act, 1961 provided tax deductions for individuals and Hindu undivided families investing in specific equity shares and mutual fund units. The provision allowed a 50% deduction on investment costs, subject to a maximum of twenty thousand rupees. Eligible investments included shares from public companies engaged in specified business activities like construction, manufacturing, housing, hospitals, hotels, and shipping. The deduction was contingent on specific conditions, such as first-time public offerings before April 1, 1990, and restrictions on selling shares within three years of acquisition.
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