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Eligibility for Rajiv Gandhi Equity Savings Scheme (RGESS) Tax Excemption

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The deduction under the Scheme will be available to a 'new retail investor' who complies with the conditions of the Scheme and whose gross total income for the financial year in which the investment is made under the Scheme is less than or equal to ten lakh rupees.

The deduction under the Scheme shall be available to a new retail investor who:-

  • Is a Individual Resident of India.
  • Who has not opened a demat account and has not made any transactions in the equity or derivative segment as on the date of notification of the scheme i.e., November 23, 2012. OR
  • Who has opened a demat account as a first holder, but has not transacted in the equity or derivate segment till November 23, 2012. OR
  • Who has a demat account as a joint holder.
  • Who has gross total income for the financial year less than or equal to Rs. 10 Lakh.

 

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

 

 

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