Notification No. 259/2005 – Income Tax Dated 13/12/2005

S.O. (E).-In exercise of the powers conferred by clause (xiii) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, further to amend the Equity Linked Savings Scheme, 2005, namely:-

(1) This scheme may be called the Equity Linked Savings (Amendment) Scheme, 2005.

(2) It shall come into force on the date of its publication in the Official Gazette.

2. In the Equity Linked Savings Schemes, 2005, –

i. In paragraph 2, for clause (g), the following clause shall be substituted, namely:-

‘(g) “year” means a year commencing from the date of allotment or holding of units, as the case may be, in the plan;’

ii. after paragraph 8, the following paragraph shall be inserted, namely:-