Section 80CCG deduction is allowed for investments made during a period of three consecutive previous years, beginning with the previous year in which the listed equity shares or listed units of equity oriented fund were first acquired.
If the assessee, in any previous year, fails to comply with any condition specified above, the deduction originally allowed shall be deemed to be the income of the assessee of such previous year and shall be liable to tax. No deduction would be allowed under this section for the assessment year commencing, on or after 1 April, 2018 (PY 2017-18 i.e. 1 April, 2017 to 31 March, 2018). However, a person who made the first investment on or before 31 March, 2017 can avail the benefit of deduction on investment for three consecutive previous years which may fall during previous years commencing on or after 1 April, 2017. For example a person who made first investment in PY 2015-16 can avail deductions during the PY 2015-16, PY 2016-17 and PY 2017-18 (upto 31 March, 2018).
After section 80CCF of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:
IndiaFilings.com is India's largest online business services platform dedicated to helping people easily start and manage their business, at an affordable cost. Our aim is to help the entrepreneur on the legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.
IndiaFilings.com partners with a network of experienced Chartered Accountants, Company Secretaries, Lawyers, Cost Accountants, Chartered Engineers, Ex-Bankers and Financial Experts across India to provide a comprehensive range of services for small and medium sized enterprises.
IndiaFilings is a Google Partner. Google Partners are tasked with helping businesses market their service or products online.Google Partner
IndiaFilings is ISO 9001:2008 Certified by TUV SUD, a leading Certification Body recognized worldwide.TUV ISO Certified
IndiaFilings.com is a winner of Red Herring Top 100 Asia Award. Red Herring recognizes promising companies from across the world.Red Herring Award
IndiaFilings is a CRISIL Verified Business. CRISIL is a subsidiary of Standards & Poor, a leading International Rating Agency.CRISIL Verified
A talented workforce that works in collaboration with a network of over 6000+ Professionals.
Get support through phone, email, mobile app or live chat - 24/7, 365 days.
Easily pay online with EMI payments, credit or debit card, net banking, PayPal and more.