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of <h1>Tax Deduction for Equity Investments: Section 80CC Offers 50% Deduction, Max Rs. 10,000, Withholding Period of 5 Years Required.</h1> Section 80CC of the Income-tax Act, introduced by the Finance Act, 1978, provides a tax deduction for individuals, Hindu undivided families, and certain associations investing in eligible equity shares. The deduction is 50% of the share cost, capped at Rs. 10,000. Eligible shares must be from a public company's first capital issue, meeting specific criteria, including government approval for certain businesses. Shares must not be sold within five years to retain the deduction. If sold, 50% of the cost becomes taxable income. The deduction is unavailable if shares are acquired through certain private arrangements or at a premium.
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