Equity linked savings deduction for specified mutual fund units - returns or plan termination trigger taxable deemed income. Deduction is available for investments in specified Equity Linked Savings Schemes by individuals and HUFs, subject to the overall deduction limit applicable to such savings instruments and restricted to the prescribed maximum. Investments must be in units of specified mutual funds or the Unit Trust under notified plans to qualify. Returned amounts on repurchase or plan termination are treated as income in the year of return, and amounts become deemed income on partition of an HUF or dissolution of an association after a deduction was claimed. Investments after a specified cut off date are excluded from deduction.