Akshaya Tritiya falls on the third day of the bright half(Shukla Paksha) of Vaishakh month (Sometime around April/May), when the Sun and Moon are in exaltation; they are simultaneously at their peak of brightness, which happens only once every year.It is the 3rd moon in the house of Aries. The word "Akshaya" means imperishable or eternal - that which never diminishes.