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MARKET SNAPSHOT

  • INDIAN
  • GLOBAL
  • BSE SENSEX
    1. 1443442
    2. -965.56
    3. 1443 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • Last Update:09 Nov,2017
  • Show All
  • CURRENCY
  • COMMODITIES
  • YEN TO IND
    1. 1443442
    2. -965.56
    3. 1443 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • BSE SENSEX
    1. 1443442
    2. -1000.56
    3. 30000 %
  • Last Update:09 Nov,2017
  • Show All
  • TOP GAINERS
  • TOP LOSERS
  • 52 WEEK HIGH
  • 52 WEEK LOW

Karvy Financial Academy-Intermediate

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    Rajiv Gandhi Equity Savings Scheme

    Rajiv Gandhi Equity Savings Scheme (RGESS) is a tax saving scheme for investment in equity in India. It is primarily launched to encourage investment in capital markets.

    Introduced in November 2012, under Section 80CCG an further expanded vide union budget 2013-14, a resident individual who buys listed equity shares or listed units of equity related mutual fund, is entitled to a 50% tax deduction in the maximum investable amount of Rs.50,000 per financial year for three consecutive assessment years.

    Who can invest?

    • Gross total income for the financial year in which the investment is made under RGESS should be equal to or less than Rs.12 lakhs.
    • First-time equity investors can invest up to Rs 50,000 in the eligible mutual funds and stocks.
    • Tax deduction on 50% of the amount under Section 80 CCG of the Income Tax Act.
    • Demat account is mandatory to be eligible for investing under RGESS.
    • Designate the Demat account for RGESS by submitting the duly signed ‘Form A’ available with your brokerage house.
    • Investment can be done any of the acceptable stock or mutual fund in lump sum or in instalments over the year in which tax deduction is to be claimed.
    • The maximum Investment permissible for claiming deduction under RGESS is Rs. 50,000 and the tax benefit is only available for one year.
    • If investment is made on the last trading day of the financial year, you get a three-day grace period so that the securities get credited in the demat account and tax benefit can be availed under the scheme.
    • The total lock-in period for investments under the RGESS would be divided into 'fixed lock-in period‘ (from the date of investment to 31st March of the financial year) and 'flexible lock-in period‘ (two years from the date of end of fined lock-in period).
    • Investor would get a 50% deduction of the amount invested from the taxable income for that year u/s 80CCG. The benefit is in addition to deduction available u/s Sec 80C.
    • Equity shares, part of BSE 100 and CNX 100 indices, on the day of purchase
    • Equity shares of public sector enterprises categorised as Maharatna, Navratna or Miniratna.
    • IPO of a public sector company in which the govt. holds at least 51% stake and whose annual turnover is not less than Rs. 4,000 crore in the preceding three years.
    
    • News

      • +MARKET COMMENTARY
        1. Market drifts higher in early trade
        2. Market may open on a flat note
        3. Select shares in spotlight on MSCI index rejig
        4. Market tumbles on broad-based selling pressure
        5. Market drops sharply ahead of Q2 GDP data
      • +CORPORATE ANNOUNCEMENTS
        1. Market drifts higher in early trade
        2. Market may open on a flat note
        3. Select shares in spotlight on MSCI index rejig
        4. Market tumbles on broad-based selling pressure
        5. Market drops sharply ahead of Q2 GDP data
      • +OTHER NEWS
        1. Market drifts higher in early trade
        2. Market may open on a flat note
        3. Select shares in spotlight on MSCI index rejig
        4. Market tumbles on broad-based selling pressure
        5. Market drops sharply ahead of Q2 GDP data
    
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