This festival falls on Vaishaakh Shukla Teej. "Akshaya" means "that which does not diminish or perish, or imperishable or eternal. Triteeyaa stands for the "Trinity" - they may be Traya Ambaa - Mahaa Kaalee, Mahaa Lakshmee and Mahaa Saraswatee; or Tri-Moorti - Bahmaa, Vishnu and Shiv. It is believed that by doing a good deed on this day one can earn Punya for all his lives. Every minute of this day is considered sacred. It is considered to be one of the most auspicious days of the Vaidik Calendar. According to Sanaatan Dharm astrology, every moment on the Akshaya Triteeyaa day is auspicious and there is no need to look for a Muhoort on this day. Not only the followers of the Sanaatan Dharm, but Buddhists, Jain also celebrate this day.

It is the only day in the entire year when both the luminaries - the Sun and the Moon, are in exaltation on the same day. This happens only once in a year. The Sun and the Moon signify a lot of things in astrology; Indian ethos; mythology; folk lore and culture, therefore the time when both the planets are in exaltation should naturally be considered as a very auspicious occasion. Any Shubh Karm done on this day will have the support of both the "Aatmaa" (Sun) and the "Man" (mind).

People keep fast, make donations, buy gold or silver and do all kinds of good work as the fruits of all Karm done on this day are immortal. That is one should never do any bad Karm on this day.

Legends of Akshaya Triteeyaa
--It is believed that Sat Yug, the Golden Age and Tretaa Yug started on this day.
--Ved Vyaas Jee dictated and Lord Ganesh started to write the Mahaabhaarat on this day.
--Parashuraam, the personification of Valor and the 6th Incarnation of Vishnu was born on this day.
--Goddess Vijayaa Chaamundeshwaree killed Asur on this day.
--Soorya Dev gave Yudhishthir a bowl called Akshaya Paatra.
--On Akshaya Triteeyaa the Paandav unearthed weapons for victory.
--According to Lakshmee Tantra, Bhagavaan prayed to Mahaa Lakshmee on this day.
--The Sun is the strongest from April 14 to May 15, when it is exalted.
--Maa Gangaa descended on the Earth from the Heaven on this day.
--Barley, one of the main ingredients for Hom, which is the Yug Dharm of Tretaa Yug, was also created on this day.
--Sudaamaa visited Krishn in Dwaarkaa with a handful of beaten rice (Pohaa or Chivadaa) on this day.
--This day is so auspicious that any moment of the day can be considered to be beneficial for starting something new like a new business etc.
--Chandan Yaatraa also starts on Akshaya Triteeyaa. This is the day when Chandan or Sandalwood Paste is applied on the idols worshipped in Madhwa's  - it is done on the idols of Hanumaan and Raaghavendra Swaamee.
--Chandan is also applied to the idol of Jagannaath Jee and the idol is taken to procession.