Section 80CCG

Section 80CCG deduction to be discontinued from A.Y. 2018-19

Income Tax - Under the existing provisions of section 80CCG, deduction for three consecutive assessment years is allowed upto Rs. 25,000 to a resident individual for investment made in listed equity shares or listed units of an equity oriented fund subject to fulfilment of certain conditions....

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Deduction under section 80CCG

Income Tax - Deduction under section 80 CCG a new scheme was introduced to encourage flow of saving in financial instruments and improve the depth of domestic capital market. However, it also aims to promote an ‘equity culture’ in India. This is also expected to widen the retail investor base in the Indian securities markets and further the goal o...

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Section 80CCG: Deduction on investment under Equity Savings Scheme

Income Tax - Eligibility for 80CCG - (1) the gross total income of the assessee for the relevant assessment year shall not exceed twelve lacs rupees. (2) Should be a new retail investor. This means you should be using a demat account the first time ever for equities. You should be using a new demat account or if you had a demat account you should h...

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Rajiv Gandhi Equity Savings Scheme (RGESS)- An Overall Analysis

Income Tax - CA Mohit Agarwal Who are the Eligible Investor ? – who opened a demat account as a ‘first holder’ after November 23, 2012. – Opened a demat account prior to this date but never bought any shares or traded in the Futures and Options (F&O) segment. – still qualifies if his name appeared second in […]...

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RGESS –Small change is worth Big Changes

Income Tax - The RGESS that was launched in F.Y.2012-2013 and notified under section 80CCG has started its operations and there are few details related to tax benefits that an Individual will have to consider to grab the full benefit of this scheme. Here are some of them:...

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RGESS – Period, Income Limit Liberalised, Allowed to Invest in MF

Income Tax -  Expanding the scope of deduction and its eligibility u/s. 80CCG The existing provisions of section 80CCG, inter-alia, provide that a resident individual who has acquired listed equity shares in accordance with the scheme notified by the Central Government, shall be allowed a deduction of fifty per cent of the amount invested in such equ...

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FAQ on Rajiv Gandhi Equity Savings Scheme (RGESS) -Section 80CCG

F. No. 1/8/SM/2012 - (05/02/2014) - Frequently Asked Questions on Rajiv Gandhi Equity Savings Scheme (RGESS) 5 February 2014 Contents I. Objectives and legal aspects of RGESS 1. What is RGESS 2. What is the objective of the Scheme?...

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Section 80CCG Govt notifies Rajiv Gandhi Equity Savings Scheme, 2013

Notification No. 94/2013 - Income Tax - (18/12/2013) - Notification No. 94/2013 - Income Tax S.O. 3693 (E).- In exercise of the powers conferred by sub-section (1) of section 80CCG of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, namely:- 1. Short title, commencement and application. - (1) This Sche...

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Rajiv Gandhi Equity Savings Scheme, 2012

Circular No. MRD/DP/32/2012 - (06/12/2012) - As announced in the Union Budget 2012-13, the Finance Act 2012 has introduced a new section 80CCG on ‘Deduction in respect of investment made under an equity savings scheme‘ to give tax benefits to new investors who invest up to Rs. 50,000 and whose gross total annual income is less than or equa...

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Sebi notifies Rajiv Gandhi Equity Savings Scheme norms

Circular No. MRD/DP/32/2012 - (07/12/2012) - Under the scheme, announced in the 2012-13 Union Budget, new investors can avail tax benefits who invest up to Rs. 50,000 in the stock market and whose gross total annual income is less than or equal to Rs. 10 lakh. The scheme was notified by the Department of Revenue, Finance Ministry on November 2...

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Rajiv Gandhi Equity Savings Scheme, 2012 -Section 80CCG – Notification

Notification No. 51/2012-Income Tax - (23/11/2012) - Notification No. 51/2012-Income Tax Rajiv Gandhi Equity Savings Scheme, 2012 shall apply for claiming deduction in the computation of total income of the assessment year relevant to a previous year on account of investment in eligible securities under sub-section (1) of section 80CCG of the Income-...

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Recent Posts in "Section 80CCG"

Section 80CCG deduction to be discontinued from A.Y. 2018-19

Under the existing provisions of section 80CCG, deduction for three consecutive assessment years is allowed upto Rs. 25,000 to a resident individual for investment made in listed equity shares or listed units of an equity oriented fund subject to fulfilment of certain conditions....

Read More
Posted Under: Income Tax |

FAQ on Rajiv Gandhi Equity Savings Scheme (RGESS) -Section 80CCG

F. No. 1/8/SM/2012 (05/02/2014)

Frequently Asked Questions on Rajiv Gandhi Equity Savings Scheme (RGESS) 5 February 2014 Contents I. Objectives and legal aspects of RGESS 1. What is RGESS 2. What is the objective of the Scheme?...

Read More

Deduction under section 80CCG

Deduction under section 80 CCG a new scheme was introduced to encourage flow of saving in financial instruments and improve the depth of domestic capital market. However, it also aims to promote an ‘equity culture’ in India. This is also expected to widen the retail investor base in the Indian securities markets and further the goal o...

Read More
Posted Under: Income Tax | ,

Section 80CCG: Deduction on investment under Equity Savings Scheme

Eligibility for 80CCG - (1) the gross total income of the assessee for the relevant assessment year shall not exceed twelve lacs rupees. (2) Should be a new retail investor. This means you should be using a demat account the first time ever for equities. You should be using a new demat account or if you had a demat account you should h...

Read More
Posted Under: Income Tax |

Section 80CCG Govt notifies Rajiv Gandhi Equity Savings Scheme, 2013

Notification No. 94/2013 - Income Tax (18/12/2013)

Notification No. 94/2013 - Income Tax S.O. 3693 (E).- In exercise of the powers conferred by sub-section (1) of section 80CCG of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, namely:- 1. Short title, commencement and application. - (1) This Scheme may be called the Rajiv Gandhi Equity...

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Rajiv Gandhi Equity Savings Scheme (RGESS)- An Overall Analysis

CA Mohit Agarwal Who are the Eligible Investor ? – who opened a demat account as a ‘first holder’ after November 23, 2012. – Opened a demat account prior to this date but never bought any shares or traded in the Futures and Options (F&O) segment. – still qualifies if his name appeared second in […]...

Read More
Posted Under: Income Tax |

RGESS –Small change is worth Big Changes

The RGESS that was launched in F.Y.2012-2013 and notified under section 80CCG has started its operations and there are few details related to tax benefits that an Individual will have to consider to grab the full benefit of this scheme. Here are some of them:...

Read More
Posted Under: Income Tax |

RGESS – Period, Income Limit Liberalised, Allowed to Invest in MF

 Expanding the scope of deduction and its eligibility u/s. 80CCG The existing provisions of section 80CCG, inter-alia, provide that a resident individual who has acquired listed equity shares in accordance with the scheme notified by the Central Government, shall be allowed a deduction of fifty per cent of the amount invested in such equ...

Read More
Posted Under: Income Tax | ,

List of Eligible Shares / Mutual Funds / ETFs under RGESS

List of Eligible Shares / Mutual Funds (MFs) & Exchange Traded Funds (ETFs) under Rajiv Gandhi Equity Saving Scheme (RGESS) The investment options under the scheme will be limited to the following categories of equities?*: Listed equity shares a. The top 100 stocks at NSE and BSE i.e., CNX-100 / BSE -100 (This does not mean […...

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Posted Under: Income Tax | ,

Eligibility Criteria & Process to claim benefits of Rajiv Gandhi Equity Savings Scheme (RGESS)

A new section 80CCG under the Income Tax Act, 1961 on ‘Deduction in respect of investment under an equity savings scheme’ has been introduced to give tax benefits to ‘New Retail Investors’ who invest up to Rs. 50,000 in ‘Eligible Securities’ and have gross total annual income less than or equal to Rs.10 Lakhs....

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Posted Under: Income Tax | ,

Rajiv Gandhi Equity Savings Scheme – Whether Sufficient To Attract Investors In To Stock Market?

In exercise of the powers conferred by sub-section (1) of section 80CCG of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the Rajiv Gandhi Equity Savings Scheme (RGESS). The purposes of the government behind such scheme are to provide tax benefits to investors investing directly and to lure investors in to stoc...

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Posted Under: Income Tax | ,

Rajiv Gandhi Equity Saving Scheme -Section 80CCG

Eligible Investors: Scheme is open to new retail investors, identified on the basis of their PAN numbers. This includes those who have opened the Demat Account but have not made any transaction in equity and /or in derivatives till the date of notification of this Scheme and all those account holders other than the first account holder wh...

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Posted Under: Income Tax | ,

Rajiv Gandhi Equity Savings Scheme, 2012

Circular No. MRD/DP/32/2012 (06/12/2012)

As announced in the Union Budget 2012-13, the Finance Act 2012 has introduced a new section 80CCG on ‘Deduction in respect of investment made under an equity savings scheme‘ to give tax benefits to new investors who invest up to Rs. 50,000 and whose gross total annual income is less than or equal to Rs. 10 lakhs. SEBI CIRCULAR NO. MRD...

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Sebi notifies Rajiv Gandhi Equity Savings Scheme norms

Circular No. MRD/DP/32/2012 (07/12/2012)

Under the scheme, announced in the 2012-13 Union Budget, new investors can avail tax benefits who invest up to Rs. 50,000 in the stock market and whose gross total annual income is less than or equal to Rs. 10 lakh. The scheme was notified by the Department of Revenue, Finance Ministry on November 23 this year....

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Special Scheme for Tax Savings, Investments

Government of India has recently notified on 23rd November, 2011, Rajiv Gandhi Equity Savings Scheme (RGESS), 2012 for new retail investors (as announced in this year’s budget ) whereby investment made in RGESS shall allow investor for claiming deduction under new section 80 CCG of Income Tax Act in the computation of total income of t...

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Posted Under: Income Tax |

Rajiv Gandhi Equity Savings Scheme, 2012 -Section 80CCG – Notification

Notification No. 51/2012-Income Tax (23/11/2012)

Notification No. 51/2012-Income Tax Rajiv Gandhi Equity Savings Scheme, 2012 shall apply for claiming deduction in the computation of total income of the assessment year relevant to a previous year on account of investment in eligible securities under sub-section (1) of section 80CCG of the Income-tax Act, 1961. Notification No. 51/2012 ...

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