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DOWNLOAD FREQUENTLY ASKED QUESTIONS ON RAJIV GANDHI EQUITY SAVINGS SCHEME (RGESS) ISSUED BY MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS (CAPITAL MARKET DIVISION) FROM THE LINK BELOW
Rajiv Gandhi Equity Savings Scheme (RGESS)
RGESS is a tax saving scheme announced in the Union Budget 2012-13 (para 35). The scheme is designed exclusively for the first time retail individual investors in securities market, whose gross total income for the year is less than or equal to Rs. 10 lakh. The investor would get under Section 80CCG of the Income Tax Act, a 50% deduction of the amount so invested, upto a maximum investment of Rs. 50,000, from his/her taxable income for that year.
RECENT AMENDMENT AS PER BUDGET 2013
DOWNLOAD FREQUENTLY ASKED QUESTIONS ON RAJIV GANDHI EQUITY SAVINGS SCHEME (RGESS) ISSUED BY MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS (CAPITAL MARKET DIVISION) FROM THE LINK BELOW
RGESS is a tax saving scheme announced in the Union Budget 2012-13 (para 35). The scheme is designed exclusively for the first time retail individual investors in securities market, whose gross total income for the year is less than or equal to Rs. 10 lakh. The investor would get under Section 80CCG of the Income Tax Act, a 50% deduction of the amount so invested, upto a maximum investment of Rs. 50,000, from his/her taxable income for that year.
RECENT AMENDMENT AS PER BUDGET 2013
Finance minister P Chidambaram Proposed liberalising the Rajiv Gandhi Equity Savings Scheme to enable first time investors to park funds in MFs and listed shares and extended tax benefits to three successive years.Also, the limit for investors wanting to invest in RGESS has been raised to Rs 12 lakh from Rs 10 lakh earlier.
