Rajeev gandhi equity saving scheme
The value of your investment portfolio should be equal to or more than the amount you've claimed as investments under Section 80 CCG. The fixed lock in period will begin from the date of purchase of securities in the relevant financial year and end on March 31 of the year immediately following the relevant year.
The number of RGESS accounts where investments were made in the first and second year was 4, compared to 1, accounts where investments were made in the first, second and third years.
The clause with respect to average holding value in days in the relevant previous year makes the product complicated for an ordinary investor to comprehend.
In Union budgetthe maximum income threshold was increased to Rs12 lakh per annum. Should you consider investing in it?
And you are going to be bombarded with a slew of tax saving options in the coming weeks. For the next two years, you are permitted to buy and sell eligible securities, provided that you maintain the value of your initial investment.
Rajiv gandhi equity saving scheme 2018
The scheme was announced in the budget. In simple words to maintain the balance during the flexible period one should purchase eligible securities to the match the amount that has been sold. Over the years, there has been a gradual decrease in the number of new investors opting for the scheme. Given the overall scenario, the deduction benefit for RGESS will be discontinued from 1 April , as proposed in the budget. The purpose of the Scheme The aim of the scheme is to expand the base of retail investors in the securities markets of India and in turn bring about financial inclusion and financial stability. The clause with respect to average holding value in days in the relevant previous year makes the product complicated for an ordinary investor to comprehend. Apart from this, the process of getting identified as a first-time equity investor requires filling multiple forms, in which you also have to state the exact benefit you seek. The total value of initial investments made by RGESS beneficiaries when valued at the actual cost of acquisition was Rs However if the value of investment on June 30, is Rs. The eligible securities can be purchased either on lumpsum or installment basis. Under Section 80CCG, investors are allowed a 50 percent deduction of the invested amount from the taxable income for that year. Eligibility criteria for participation in this scheme The tax deduction under this scheme is for new retail investors who fulfill the following the criteria: a. Updated: Dec 22, ,
There was also a decline in the amount invested by existing RGESS account holders in subsequent years. The scheme was announced in the budget. The income ceiling when the scheme was introduced was placed at INR 10 lakh in
based on 87 review