19 February 2013
yes. Investment can be made for more than Rs. 50,000/- under this scheme. But, the eligible investment would be only Rs.50,000/- for the deduction u/s. 80CCG.
Guest
Guest
(Expert)
19 February 2013
YES, INDIVIDUAL CAN INVEST ANY AMOUNT ....... BUT DEDUCTION WILL BE AVAILABLE UPTO ON RS. 50000/-
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.
20 February 2013
That means the maximum investment which can be made through the RGESS scheme is limited to Rs.50,000?
Otherwise it can be say that, one can invest any amount through his DEMAT, but only Rs.50000 can be done through the RGESS which is linked with S:80CCG.
Am I right?
Querist :
Anonymous
Querist :
Anonymous
(Querist)
20 February 2013
That means the maximum investment which can be made through the RGESS scheme is limited to Rs.50,000?
Otherwise it can be say that, one can invest any amount through his DEMAT, but only Rs.50000 can be done through the RGESS which is linked with S:80CCG.