11 Jan 2013

Rajiv Gandhi Equity Savings Scheme ( RGESS)

         Rajiv Gandhi Equity Savings Scheme ( RGESS) is a  tax savings scheme under section 80 CCG for new retail investors in stock market.The maximum investment under this scheme is Rs.50000.Annual income of the investor should be less than Rs.10 lac.Investor would get a 50 % discount of the amount invested from taxable income.Lock in Period is 3 years.
        Investor can invest by installments in the first year.Value of Stocks should be more than 50000 in subsequent years.Dividends are tax free. Investors should open a Demat account for RGESS and Buy eligible securities from the  indices NSE CNX 100,BSE 100,Maharatna & Navaratna PSU companies,and ETFs based on Nifty.

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