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:
    January 30, 2016 at 3:09 pm

    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

    Reply
  2. Ram says:
    June 11, 2012 at 2:24 pm

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

    Reply
  3. Ashal Jauhari says:
    June 9, 2012 at 12:21 am

    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

    Reply

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