Deduction in respect of investment made under Equity Linked Savings Scheme.80CCB. (1) Where an assessee, being-
| (a) | - | an individual, or |
| (b) | - | a Hindu undivided family, |
| (c) | - | [* * *] |
has acquired in the previous year, out of his income chargeable to tax, units of any Mutual Fund specified under clause (
23D) of section 10 or of the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963), under any plan formulated in accordance with such scheme as the Central Government may, by notification in the Official Gazette, specify in this behalf (hereafter in this section referred to as the Equity Linked Savings Scheme), he shall, in accordance with, and subject to, the provisions of this section, be allowed a deduction in the computation of his total income of so much of the amount invested as does not exceed the amount of ten thousand rupees in the previous year :
Provided that no deduction shall be allowed in relation to any amount invested under this sub-section on or after the 1st day of April, 1992. (2) Whe
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