Easy Office
LCI Learning

Tax breaks for first-time investors in shares, mutual funds

This query is : Open 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
22 September 2012 The flip side is that you can only claim the benefit once. "It's a one-time deduction," a partner at consulting firm Ernst & Young said.

So, from Monday, those who have a PAN and a demat account with no trades so far will be able to avail of the benefit provided that their taxable income is up to Rs 10 lakh. In addition, the maximum permitted investment is Rs 50,000 a year, and a 50% deduction available under the Income Tax Act will translate into a net gain of Rs 25,000 for someone who makes full use of the Rajiv Gandhi Equity Savings Scheme.

please explain above state in simple meaning for Rajiv Gandhi Eq,
Profile Image

CA Lokesh Pokharna

Profile Image

CA Lokesh Pokharna (Expert)
22 September 2012 all you explained dear. whats remaining
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
22 September 2012 not clear about RS 25000
Upgrade to CAclubindia Pro. Subscribe Now!


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links