Income Tax savings under 80CCG

POSTED BY Jha ON March 12, 2013 4:50 pm COMMENTS (5)

Dear Friends,

Now, I understood Govt has given lot many clarifications on RGESS scheme. Also Mutual Funds are allowed to trade under this.

Hence, I hope this is beneficial to all. For tax payers under 20% slab, about Rs.5,150/- can be saved under this scheme with an investment of Rs. 50K. This about 10% upfront income on investment.

Under these situations, I would like to invest in the same during next week. I would love to have all of your comments on the same. Am I correct in investing under RGESS. Or am I taking a great Risk for avoiding 5K tax. Pl. suggest me.

Regards, Jha

5 replies on this article “Income Tax savings under 80CCG”

  1. Dear Jha, instead of opting this 5K tax saving by investing directly in Eq. please use RGESS certified MFs for the same.

    Thanks

    Ashal

  2. Jha says:

    Dear Ashal Ji,

    Yes sir. I hope I am eligible. I am the first time investor & dont have Demat Ac. (Till date i am investing in MFs & IPOs on my wife’s name). I am in 20% tax slab and gross income is just less than 10L.

    That is the reason I would love to invest and save Tax. But, my worry is “Am I taking a great Risk for avoiding 5K tax”. Pl. suggest me.
    Thanks, Jha

  3. Dear Jha, the first question is are you eligible at all for RGESS or not? Anything else is secondary.

    Thanks

    Ashal

  4. Dear Jha, what’s the query?

    Thanks

    Ashal

    1. Jha says:

      Dear All

      Actually, I typed the question yesterday and published. However, blank question was appearing. Now, I edited the question.

      I request all of you to try to answer the same.
      Regards. Jha

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