https://www.taxtmi.com/acts?id=4288 Deduction is allowed to an individual or Hindu undivided family for investment in units of specified mutual funds or the Unit Trust of India under a Government notified Equity Linked Savings Scheme, up to the prescribed monetary ceiling; investments made on or after the statutory cutoff are excluded. Any amount returned by repurchase or on termination of the plan in respect of units for which a deduction was allowed is deemed income of the assessee in the year of return and chargeable to tax, and the same deeming rule applies where partition or dissolution leads to receipt of such income. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 12:12:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4288 Deduction is allowed to an individual or Hindu undivided family for investment in units of specified mutual funds or the Unit Trust of India under a Government notified Equity Linked Savings Scheme, up to the prescribed monetary ceiling; investments made on or after the statutory cutoff are excluded. Any amount returned by repurchase or on termination of the plan in respect of units for which a deduction was allowed is deemed income of the assessee in the year of return and chargeable to tax, and the same deeming rule applies where partition or dissolution leads to receipt of such income. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4288