S:80ccg

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Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2016 Hello someone please help me with the query,
I have made an investment in Birla sunlife equity fund for RS-200000/-in the AY 14-15,and it has come into TRACES . In the second year again i have invested RS 200000/- but it has not come into TRACES now will i be eligible for S:80CCG deduction for AY 15-16(i have availed S:80CCG deduction for the AY 14-15).

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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20 January 2016 At present Rajiv Gandhi Equity Savings scheme,2012 has been notified under section 80 CCG [ Notification No.51/2012 dated 23.11.2012] The Finance Act,2013 has amended the provisions of section 80 CCG w.e.f. AY 2014-15. After that benefit of deduction under section 80 CCG is available to a new investor, being a resident individual with gross total income of up to 12 lakh, for investment in listed equity shares or listed units of equity oriented fund, in accordance with a notified scheme Further, the deduction shall be allowed for three consecutive assessment years, beginning with the assessment year relevant to the previous year in which the listed equity shares or listed units of equity oriented fund were first acquired. The minimum lock in period in respect of such investment is three years from the date of acquisition are remain the same.

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