POSTED BY March 1, 2014 11:29 am COMMENTS (4)
ONI have opened my Demat A/c on last october-2013 & so far invested in the following MFs via SIP
1. ICICI Pru Focussed Bluechip-Direct
2.UTI Oppourtunities-Direct
3. SBI Pharma-Direct
4.IDFC Dynamic Bond fund_Direct
5.ICICI Pru Discovery Fund
6.ICICI Balanced Adv Fund
So far I have invested 30k in the above mentioned MFs & extra Rs 8600/ in SBI Gold ETS via SEP manner.My annual income is below 10lac & also I am a first time investor.
Am I eligible to avail 50% tax exemption over my total invested amount 38.6k under 80 CCG & are my MFs belong to RGESS ??
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Dear Ashal
Actually I am not going to invest in RGESS mutual funds only for the sake of tax benefit,then my main objective of wealth creation to secure future will be lost.Only I wanted to know whether am I eligible u/s 80 CCG for the investments I have already made from last financial yr.
Dear Moneykadoctor,
Frist of all its good to know your aptly kept name.Its unforgettable.Thanks a lot for ur reply.I have also invested in tax free bonds like-
1.HUDCO taxfree bonds
2.PEC tax free bonds
3.IREA
4.IIFCL tax free bonds
Are these bonds come under ‘shares of govt companies’??Are these eligible for deduction u/s 80 CCG??
Dear Priya, do you really feel RGESS is good for you?
Thanks
Ashal
Dear ‘priyajitgh’,
You will be eligible to avail the deduction u/sec 80CCG i.e. Rajiv Gandhi Equity Savings Scheme. However, none of the the MFs/ETF mentioned by you above are eligible for the RGESS.
So for availing the deduction, you can invest upto Rs.50,000 in the following avenues:
(deduction will be 50% of the amount invested)
1.Equity shares falling in the list of “BSE-100″ or ” CNX-100″
OR
2.Equity shares of public sector enterprises which are categorised as Maharatna, Navratna or Miniratna by the Central Government
OR
3.The following ETFs :
Birla Sun Life Nifty ETF
Goldman Sachs Banking BeES
Goldman Sachs CNX Nifty Shariah BeES
Goldman Sachs Nifty ETS
Goldman Sachs Nifty Junior BeES
ICICI Prudential CNX 100 ETF
ICICI Prudential Nifty ETF
IIFL Nifty ETF
Kotak Nifty ETF
Kotak Sensex ETF
Motilal Oswal MOSt Shares M50 ETF
Quantum Index
R*Shares Banking ETF
R*Shares Nifty ETF
Religare Invesco Nifty ETF
SBI Sensex ETF
OR
4.RGESS Schemes of Mutual funds – Some AMCs have launched NFOs for the same and more are expected in during the month(March).
Hope this helps.