Qyery regarding u\s 80ccg

This query is : Resolved

Guest

Guest (Querist)

20 February 2013 GOOD MORNING SIR\MAM
CAN YOU TELL ME THAT CAN A SALARIED CLASS PERSON AVAIL THE BENEFIT OF RAJIV GANDHI SCEHME U/S 80CCG
THANKS

Rahul Sharma

Rahul Sharma (Expert)
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20 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.

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