I want to invest in Rajiv Gandhi Equity Savings Scheme (RGESS). I don't want an Exchage Traded Fund (ETF) since I do not have a trading account. Are there any scheme on offer now? If no, where can I get the details of the upcoming RGESS schemes?
- Sundaram A
If your annual income is below ₹12 lakh and you have never traded in stocks through a demat account, you can invest up to ₹50,000 in Rajiv Gandhi Equity Savings Scheme (RGESS) and claim a tax deduction of 50 per cent of the investment (maximum ₹25,000). This benefit is available for three successive years and it is over above the tax deduction of ₹1.5 lakh available under Section 80C of the Income Tax Act.
Here is a list of existing RGESS funds.
This article was originally published on February 23, 2016.
Disclaimer: This content is for information only and should not be considered investment advice or a recommendation.
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