Posted: Thu, 28 Feb 2013 04:31:14 +0000
Rajiv Gandhi Equity Savings Scheme (RGESS), 2012
With an objective to encourage flow of savings of the small investors in domestic capital market, the Government of India (GOI) announced a scheme named Rajiv Gandhi Equity Savings Scheme, 2012 (RGESS) to offer tax benefits to ‘New Retail Investors’.
Under RGESS, ‘New retail Investor’ can invest upto Rs.50,000 in eligible securities and avail additional tax benefit (i.e., deduction) upto Rs.25,000 under Section 80CCG. This is over and above the limit of Rs.1,00,000 currently available under Section 80C of the Income Tax Act, 1961.
Read More detailes in Gujarati : Source – Divyabhaskar
- You must be a resident individual.
- You must be a new retail investor i.e. you do not have a demat account or you have a demat account but have not done any transaction till the date of Notification viz; November 23, 2012.
- Your gross total income must be less than or equal to Rs.10 lacs.
- Website : https://nsdl.co.in/RGESS.php