A New Tax Saving (Benefit) Scheme introduced by the Ministry of Finance as The Rajiv Gandhi Equity Savings Scheme (RGESS) for equity investment in select stocks, mutual funds and ETFs.
As far as saving is concerned, earlier the start, better the miracle of interest compounding. The importance of saving cannot be overruled at any point of time. Make hay while the sun shines and the money saved is money earned hold true at all the time. The other reason that you should start saving early is that you will need to save less money.
Under this scheme, if you are a first time investor with a gross annual income less than`10 lakh, then up to `50,000 of your investments in the stock market will be eligible for tax deduction under section 80-CCG.
Highlights of Rajiv Gandhi Equity Savings Scheme (RGESS):
As far as saving is concerned, earlier the start, better the miracle of interest compounding. The importance of saving cannot be overruled at any point of time. Make hay while the sun shines and the money saved is money earned hold true at all the time. The other reason that you should start saving early is that you will need to save less money.
Under this scheme, if you are a first time investor with a gross annual income less than`10 lakh, then up to `50,000 of your investments in the stock market will be eligible for tax deduction under section 80-CCG.
Highlights of Rajiv Gandhi Equity Savings Scheme (RGESS):
- The Taxpayee (Only Individuals) can take advantages of this scheme. This scheme not for HUF and other Taxpayee i.e. Firm, Company etc.
- This scheme is allowed only New Investors not applicable for equities earlier.
- A such Taxpayee can get benefit of this scheme whose Taxable Income is not grater than 10 lacks.
Tax benefits u/s. 80CCG:
The exemtion tax amount is deducted u/s. 80CCG excluding u/s. 80C. The limit of Deduction amount is 25000/- Per Annuan or 50% on Investment money.
Eligible Securities :
You can pick the below listed stocks from four categories: CNX 100, BSE 100, Maharatna and Navaratna & ETFs
The exemtion tax amount is deducted u/s. 80CCG excluding u/s. 80C. The limit of Deduction amount is 25000/- Per Annuan or 50% on Investment money.
Eligible Securities :
You can pick the below listed stocks from four categories: CNX 100, BSE 100, Maharatna and Navaratna & ETFs
1.Securities in CNX 100(list can be changed by NSE)
2. Securites in BSE 100
3 MAHARATNA & NAVARATNA COMPANIES
a)MAHARATANA Coal India Limited
Indian Oil Corporation Limited
NTPC Limited
Oil & Natural Gas Corporation Limited
Steel Authority of India Limited
b)NAVRATNA Bharat Electronics Limited
Bharat Heavy Electrical Limited
Bharat Petroleum Corporation Limited
GAIL (India) Limited
Hindustan Petroleum Corporation Limited
Mahanagar Telephone Nigam Limited
National Aluminium Company Limited
NMDC Limited
Neyveli Lignite Corporation Limited
Oil India Limited
Power Finance Corporation Limited
Power Grid Corporation of India Limited
Rural Electrification Corporation Limited
Shipping Corporation of India Limited
4..ETF(exchange traded Funds)
Birla Sun Life Nifty ETF* BSLNIFTY
Goldman Sachs Banking Index Exchange Traded Scheme BANKBEES
Goldman Sachs Nifty Exchange Traded Scheme NIFTYBEES
Goldman Sachs Nifty Junior Exchange Traded Scheme JUNIORBEES
Goldman Sachs S&P CNX Nifty Shariah Index Exchange Traded Scheme SHARIABEES
IIFL NIFTY ETF* IIFLNIFTY
Kotak Nifty ETF* KOTAKNIFTY
Motilal Oswal MOSt shares M50 ETF* M50
Quantum Index Fund QNIFTY
R*Shares Banking Exchange Traded Fund* RELBANK
Religare Nifty Exchange Traded Fund RELGRNIFTY
New Tax Saving Scheme - Rajiv Gandhi Equity Saving Scheme (RGESS). (Click Here)
2. Securites in BSE 100
3 MAHARATNA & NAVARATNA COMPANIES
a)MAHARATANA Coal India Limited
Indian Oil Corporation Limited
NTPC Limited
Oil & Natural Gas Corporation Limited
Steel Authority of India Limited
b)NAVRATNA Bharat Electronics Limited
Bharat Heavy Electrical Limited
Bharat Petroleum Corporation Limited
GAIL (India) Limited
Hindustan Petroleum Corporation Limited
Mahanagar Telephone Nigam Limited
National Aluminium Company Limited
NMDC Limited
Neyveli Lignite Corporation Limited
Oil India Limited
Power Finance Corporation Limited
Power Grid Corporation of India Limited
Rural Electrification Corporation Limited
Shipping Corporation of India Limited
4..ETF(exchange traded Funds)
Birla Sun Life Nifty ETF* BSLNIFTY
Goldman Sachs Banking Index Exchange Traded Scheme BANKBEES
Goldman Sachs Nifty Exchange Traded Scheme NIFTYBEES
Goldman Sachs Nifty Junior Exchange Traded Scheme JUNIORBEES
Goldman Sachs S&P CNX Nifty Shariah Index Exchange Traded Scheme SHARIABEES
IIFL NIFTY ETF* IIFLNIFTY
Kotak Nifty ETF* KOTAKNIFTY
Motilal Oswal MOSt shares M50 ETF* M50
Quantum Index Fund QNIFTY
R*Shares Banking Exchange Traded Fund* RELBANK
Religare Nifty Exchange Traded Fund RELGRNIFTY
New Tax Saving Scheme - Rajiv Gandhi Equity Saving Scheme (RGESS). (Click Here)
