Investing in Rajiv Gandhi Equity Savings Scheme

POSTED BY Ram ON June 8, 2012 4:38 pm COMMENTS (3)

Dear All,

I found this forum is useful to clear many doubts. I understood as this is a good forum.

I too have one query. This is regarding IT benefits on Rajiv Gandhi Equity Savings Scheme.

I understood, anybody who invests Rs 50,000 in equities stands to get income tax deduction on Rs 25000, if annual income is below Rs 10 lakh. Also I understood there is a lock in period of 3 years.

Pl. help me in understanding, Is this 10 lakh is GROSS income or Taxable Gross income?

Also, can you suggest any good fund for investing?

Thanks
Ram

3 replies on this article “Investing in Rajiv Gandhi Equity Savings Scheme”

  1. Rathod says:

    Dear Mr. Ram,You can avail the tax benefit of Rs 5000 by investing 50 k, But your income is 12 lack and not 10 Lack. I am also seeking the information, weather this 12 lack Rupees is after the income tax deduction or Before the income tax deduction

  2. Ram says:

    Thanks Mr. Ashal, I understood the same and will wait for full details to publish from Govt.
    Regards, Ram

  3. Dear Ram, the RGESS is yet to see the day of light for the exact T & C of the scheme & how to provide the benefits. Jury is not yet out on the same. Let those wise man decide.

    It’s too early to ask for RGESS.

    Thanks

    Ashal

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