19 February 2013
WHATS IS THIS RAJIV GANDHI SCHME CAN ONE CAN GET DEDUCTION IN IT BESIDE 80C & 80D WHAT IS THE LIMIT FOR DEDUCTION AND WHO CAN INVESTE IN IT
19 February 2013
If you are an Indian resident, earn less than Rs 10 lakh a year and have not done any equity transactions before 23 November 2012, then you are eligible for investing under the Rajiv Gandhi Equity Savings Scheme (RGESS).
Under this scheme, first-time equity investors can invest up to Rs 50,000 in approved stocks and mutual funds and claim income tax deduction on 50 per cent of the amount under Section 80 CCG of the Income Tax Act. This is over and above the Rs 1 lakh limit under Section 80 C.
CAclubindia
