RGESS Liberalized
The much talked RGES Scheme (Rajiv Gandhi Equity Savings Scheme) has now been liberalized. Now, eligible investors can invest for 2 more years continuously. Earlier, they were allowed to invest for one time only. Also, eligible conditions have also been modified. Now, investors upto an annual income of Rs 12 lakh will be able to invest. Earlier, it was capped at Rs 10 lakh (annual income).
Mutual Fund Advisors
AMFI registered mutual fund advisors have been allowed to become brokers on Stock Exchanges for Mutual Fund division.
STT Reduced
Securities Transaction Tax (STT) has been reduced on Exchange Traded Funds (ETFs) to 0.001%.
ETF
Pension funds will be able to invest in equity markets through ETF route.
Infrastructure Debt Funds
Two new IDFs will launched in the coming months.
Tax Free Bonds
More tax free bonds will be launched to tune of collection of Rs 50,000 for 2013-14.
Income Tax Changes
Tax credit of Rs 2,000 for a tax-payer in the tax bracket of Rs 2-5 lakh. Otherwise, no changes have been made to the tax slabs.
Inflation Indexed Bonds
Ministry of Finance will co-ordinate with RBI in launching these Inflation Indexed Bonds.
Home Loan
Any first home loan taken before April 2014 (upto an amount of Rs 25 lakh) will get an additional deduction of Rs 1 lakh. So, the total deduction amounts to Rs 2.5 lakh now.
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