Insertion of New Section 80CC

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....ual, or (b) a Hindu undivided family, or (c) an association of persons or a body of individuals consisting only of husband and wife governed by the system of community of property in force in the Union territories of Dadra and Nagar Haveli and Goa, Daman and Diu, has acquired in the previous year (being a previous year relevant to the assessment year commencing on the 1s....

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.... the assessee of the shares referred to in sub-section (1) which are acquired by him in the previous year exceeds ten thousand rupees, the deduction under that sub-section shall be allowed only with reference to such of those shares (being shares the aggregate cost whereof to the assessee does not exceed ten thousand rupees) as are specified by him in this behalf. (3) For the purposes of ....

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....b) the issue is an issue of capital made by the company for the first time; (c) the shares forming part of the issue are offered for subscription to the public; (d) such other conditions as may be prescribed : Provided that in the case of a company which had originally been incorporated as a private company but has become a public company under the provisions of the Comp....

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....anies Act, 1956 (1 of 1956). (4) The deduction under sub-section (1) shall not be allowed unless the assessee has - (i) subscribed to the shares in pursuance of an offer for subscription to the public made by the public company or in pursuance of a reservation or an option in his favour by reason of his being a promoter of the company; or (ii) purchased the shares from a....