Newly introduced sec 80ccg

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 November 2012 Income tax deduction u/s 80ccg under rajiv gandhi Equity Saving Scheme.

Is this scheme is available in market? If yes How can I purchase it. (procedure)

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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29 November 2012 open a demat account, and buy share any for lock in period of 3 yeras.

applies only if you have never invested in share market befoe......

Querist : Anonymous

Querist : Anonymous (Querist)

29 November 2012 If investment was made in past (i.e. when there is no deduction available U/S 80CCG) and then after shares were sold. Deduction availble under this section? Currently there is no investment in shares..

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CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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29 November 2012 No, Then 80CCG is Not Available.
Available to Those Who are New in Both Primary & Secondary market.

Querist : Anonymous

Querist : Anonymous (Querist)

29 November 2012 If I have already demat account. I open second demat account for this deduction. Then deduction under said section will be available?

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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29 November 2012 no, if you had made transaction earlier in your first demat account...