Deduction u/s 80CCG (RGESS) is available only to New Retail Investors, identified on the basis of their PAN numbers.
Following residents Individual shall be considered as “New Retail Investor” under the RGESS:
Following residents Individual shall be considered as “New Retail Investor” under the RGESS:
- any individual who has not opened a demat account and has not made any transactions in the derivative segment as on the date of notification of the Scheme;
- any individual who has opened a demat account before the notification of the Scheme but has not made any transactions in the equity segment or the derivative segment till the date of notification of the Scheme, and
- any individual who is not the first account holder of an existing joint demat account shall be deemed to have not opened a demat account for the purposes of this Scheme
In some specific case, taxpayee already have a demat account and have done the transactions as well, you will not be considered as “New Retail Investor” and will not be entitled for deduction u/s 80CCG.
For More Details on RGESS (Click Here)
Source: The Hitwada News Paper
