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....

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...

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...

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 […]...

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:...

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 […...

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....

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...

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...

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...