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Words Worth
Individuals can contribute to National Pension Scheme (NPS) and claim an additional tax deduction of up to Rs 50,000 under Section 80CCD(1B) of the Income Tax Act | |
You can invest any amount in a demat account designated under RGESS, but the benefit under the scheme can be claimed only on investment up to Rs. 50,000 in a single financial year | |
Employer's contribution is eligible for tax deduction of up to 10 per cent of the salary (basic plus DA) under Section 80CCD(2) | |
International funds, investing overseas or investing in feeder funds, are treated as non-equity funds for taxation purposes | |
Balances held in NRE accounts can be repatriated abroad freely, whereas funds in NRO accounts cannot be remitted abroad but have to be used only for local payments in rupees | |
The direct plans do not spend money on commissions. The money saved is invested and it results in higher returns over a long period | |
If one of the joint holders (other than the first one) dies, the investment will continue to remain in the name of the first unit holder | |
If you want to draw pension from a different place, you have to furnish appropriate bank/post office address in the application form | |
Generally, long-term capital gains are taxed at 20 per cent , but in certain special cases, the gain may be taxed at 10 per cent | |
Rajiv Gandhi Equity Savings Scheme (RGESS) aims to encourage first time investors to invest in equity markets | |
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