Equity linked savings scheme definitions clarify eligible assessees and scope of investment in specified mutual funds. Defines the scheme's core terms: assessee includes individuals, Hindu undivided families, and specified husband and wife associations; investment means acquisition of Units of the Unit Trust or a Mutual Fund under a scheme plan; 'plan' is any plan under the scheme; 'Mutual Fund' and 'Unit Trust' are identified by reference to the tax provision and the Unit Trust repeal legislation; undefined terms adopt meanings from the Income tax statute; 'year' is now defined to commence from the date of allotment or holding of units.
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.
Equity linked savings scheme definitions clarify eligible assessees and scope of investment in specified mutual funds.
Defines the scheme's core terms: assessee includes individuals, Hindu undivided families, and specified husband and wife associations; investment means acquisition of Units of the Unit Trust or a Mutual Fund under a scheme plan; "plan" is any plan under the scheme; "Mutual Fund" and "Unit Trust" are identified by reference to the tax provision and the Unit Trust repeal legislation; undefined terms adopt meanings from the Income tax statute; "year" is now defined to commence from the date of allotment or holding of units.
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