CA.Lekshmi Devi (Chartered Accountant) (120 Points)
26 November 2012Could some one help me on the details of deduction u/s. 80CCG? I am not clear on "new retail investors" ; also let me know on the blanket lock-in period and lock-in period of 3 years... Kindly let me know, whether it is worth investing for salaried assesses.
Thanks & Regards,
Lekshmi
CA Manish
(Job)
(5264 Points)
Replied 26 November 2012
New retail investor means a person who has not traded stock or in derivatives before announcement of this scheme , though he may have opened a Demat account before scheme announcement .
•The total lock-in period for investments under the Scheme would be three years including an initial blanket lock-in period of one year, commencing from the date of last purchase of securities under RGESS.
•After the first year, investors would be allowed to trade in the securities in furtherance of the goal of promoting an equity culture and as a provision to protect them from adverse market movements or stock specific risks as well as to give them avenues to realize profits
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