Dear friends,
I am attaching Rajiv Gandhi Equity Savings Scheme 2012 notified on 23.11.2012. . It provides for additional deduction to new retail investor (whose gross total income in the year is not more than Rs.10 lacs) u/s 80CCG of Income Tax Act upto Rs.50,000/- p.a. and the investment has to be made through demat account for minimum period of 3 years.
Thanks
From India, Malappuram
1442I am attaching Rajiv Gandhi Equity Savings Scheme 2012 notified on 23.11.2012. . It provides for additional deduction to new retail investor (whose gross total income in the year is not more than Rs.10 lacs) u/s 80CCG of Income Tax Act upto Rs.50,000/- p.a. and the investment has to be made through demat account for minimum period of 3 years.
Thanks
From India, Malappuram
Dear Agrawal ji,
Greetings of the day.
The Para 4 of the scheme says:
The deduction under the Scheme shall be available to a new retail investor who complies with the conditions of the Scheme and whose gross total income for the financial year in which the investment is made under the Scheme is less than or equal to ten lakh rupees.
This means this scheme is of no use to those income is more than 10L since there is no deduction is allowed under 80 CCG.
Thanks with regards.
Keshav Korgaonkar
From India, Mumbai
Greetings of the day.
The Para 4 of the scheme says:
The deduction under the Scheme shall be available to a new retail investor who complies with the conditions of the Scheme and whose gross total income for the financial year in which the investment is made under the Scheme is less than or equal to ten lakh rupees.
This means this scheme is of no use to those income is more than 10L since there is no deduction is allowed under 80 CCG.
Thanks with regards.
Keshav Korgaonkar
From India, Mumbai
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