Akshaya Tritiya which is also known as Akha Teej is highly auspicious and holy day for Hindu communities. It falls during Shukla Paksha Tritiya in the month of Vaishakha. Akshaya Tritiya falling on a Rohini Nakshatra day with Wednesday is considered very auspicious. The word Akshaya (अक्षय) means never diminishing. Hence the benefits of doing any Japa, Yajna, Pitra-Tarpan, Dan-Punya on this day never diminish and remain with the person forever.
Akshaya Tritiya is believed to bring good luck and success. Most people purchase Gold on this day as it is believed that buying Gold on Akshaya Tritiya brings prosperity and more wealth in coming future. Being Akshaya day it is believed that Gold, bought on this day, will never diminish and would continue to grow or appreciate.
Akshaya Tritiya day is ruled by God Vishnu who is the preserver God in the Hindu Trinity. According to Hindu mythology Treta Yuga began on Akshaya Tritiya day. Usually Akshaya Tritiya and Parashurama Jayanti, birthday anniversary of 6th incarnation of Lord Vishnu, falls on the same day but depending on staring time of Tritiya Tithi Parashurama Jayanti might fall one day before Akshaya Tritiya day.
Vedic astrologers also consider Askshay Tritiya an auspicious day free from all malefic effects. As per Hindu Electional Astrology three lunar days, Yugadi, Akshaya Tritiya and Vijay Dashami don't need any Muhurta to start or perform any auspicious work as these three days are free from all malefic effects.