Equity linked savings scheme sets holding and repurchase rules with mandated equity allocation and periodic repurchase pricing. The Equity Linked Savings Scheme permits eligible assessees to invest in units of Unit Trusts or specified Mutual Funds under formulated plans subject to minimum subscription rules and a prescribed holding period before units may be tendered for repurchase. Units become transferable only after the holding period. Funds of plans must be principally invested in equities and convertible instruments, with temporary investment allowed in liquid instruments; repurchase prices are periodically announced, may reflect unrealised appreciation subject to specified deductions, and plans have a capped operational life with early termination permitted where most units are repurchased.
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 sets holding and repurchase rules with mandated equity allocation and periodic repurchase pricing.
The Equity Linked Savings Scheme permits eligible assessees to invest in units of Unit Trusts or specified Mutual Funds under formulated plans subject to minimum subscription rules and a prescribed holding period before units may be tendered for repurchase. Units become transferable only after the holding period. Funds of plans must be principally invested in equities and convertible instruments, with temporary investment allowed in liquid instruments; repurchase prices are periodically announced, may reflect unrealised appreciation subject to specified deductions, and plans have a capped operational life with early termination permitted where most units are repurchased.
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