|I. The scheme is applicable only to individuals. The benefit of tax deduction is not available to any other category of tax payee.|
|II. The maximum deduction will be on investment up to Rs 50000 during financial year.|
|III. Total income of the individual should not exceed Rs 10 lakh.|
|IV. There would be lock in period of three years.|
A) II, III and IV
B) I, II and III
C) III and IV
D) All of the above
Correct Answer: D
Solution :The finance act 2012 for the first time introduced a special scheme to provide tax deduction in respect of investments inequities. The investment should be made in listed equity shares only.
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