Deduction in respect of investment made under an equity savings scheme.

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.... an equity oriented fund] in accordance with a scheme, as may be notified by the Central Government in this behalf, he shall, subject to the provisions of sub-section (3), be allowed a deduction, in the computation of his total income of the assessment year relevant to such previous year, of fifty per cent of the amount invested in such equity shares 3[or units] to the extent such deduction does n....

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.... oriented fund] as may be specified under the scheme referred to in sub-section (1); (iv) the investment is locked-in for a period of three years from the date of acquisition in accordance with the scheme referred to in sub-section (1); and (v)  such other condition as may be prescribed. (4) If the assessee, in any previous year, fails to comply with any condition specified in sub-sectio....

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....f he is otherwise eligible to claim the deduction in accordance with the other provisions of this section.] 7[Explanation.-For the purposes of this section, "equity oriented fund" shall have the meaning assigned to it in the Explanation to clause (38) of section 10.]     *************** NOTES:- 1.  Inserted vide Section 25 of the Finance Act, 2012 w.e.f. 01-04-2013 2.  ....