Budget 2017-18: Phase out the Rajiv Gandhi Equity Savings Scheme - RGESS from 2018-19. - MYREALITY.In, Real Estate, Share Market, Mutual Fund, Insurance
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Thursday, February 02, 2017

Budget 2017-18: Phase out the Rajiv Gandhi Equity Savings Scheme - RGESS from 2018-19.

Budget 2017-18:  Phase out the Rajiv Gandhi Equity Savings Scheme  - RGESS from 2018-19.

Share market participants have interpreted a Budget proposal as a move to phase out the Rajiv Gandhi Equity Savings Scheme (RGESS) from 2018-19.
Under the scheme, first-time investors with a gross annual income of up to Rs. 12 lakh could invest up to Rs. 50,000 in specified stocks or mutual fund units to get tax benefits under Section 80CCG of the Incomme Tax Act.

Half of the investment made was allowed as deduction in computation of total income for the financial year to the extent it did not exceed Rs. 25,000.


The Budget 2017-18 has proposed to insert a new sub-section so as to stop giving the tax benefit from the assessment year starting April 2018.
Budget 2017-18: Phase out the Rajiv Gandhi Equity Savings Scheme - RGESS from 2018-19. Reviewed by S. Chitra on February 02, 2017 Rating: 5 Budget 2017-18:  Phase out the Rajiv Gandhi Equity Savings Scheme  - RGESS from 2018-19. Share market participants have interpreted a ...

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