• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
financial planner in Chennai

Financial Planners in Chennai | Financial advisor in Chennai | Assuredgain | Chennai | India

Chennai's #1 Financial Advisor & Planner

  • Home
  • About Us
    • Why Us – Best financial advisor in chennai
    • Employee Financial Wellness Program
    • Free Consultation With chennai’s No.1 Financial Adviser
  • Our services
    • Insurance Planning-
    • Tax planning
    • Investment Planning
    • Child Future Planning
    • Retirement Planning.
    • Employee Financial Wellness Program
  • Blog
  • Contact Us
  • Terms & Condition
  • Privacy Policy

Rajiv Gandhi Equity Savings scheme – Update

December 1, 2012 by assuredgain

After a long delay, government has clarified on this new tax saving scheme.   Rajiv Gandhi Equity Savings Scheme (RGESS) is introduced  to encourage small investors to channelize their savings into domestic capital markets.

The scheme has been framed consequent to the introduction of Section 80-CCG in the Finance Act 2012.  Under this scheme, a one-time deduction for income tax purposes will be available to a “new retail investor.” The new retail investor will be eligible for a deduction on the actual amount invested in ‘eligible securities’ in the first financial year, subject to maximum deduction limit of Rs 50,000.

No subsequent deduction

If the new retail investor has claimed a deduction in any assessment year, then no income tax deduction will be available for any subsequent assessment years under the scheme. The deduction will be available to a ‘new retail investor’ whose gross total income for the financial year, in which investments are made under the scheme, is less than or equal to Rs 10 lakh.

Eligible securities will include equity shares falling in the list of equity declared as “BSE-100” or “CNX-100”; equity shares of public sector enterprises that are categorised as maharatna, navaratna or miniratna by the Central Government. Also, units of exchange-traded funds or mutual fund schemes with RGESS-eligible securities as underlying, will be counted as eligible securities for investment.

Eligibility Criteria

Any resident individual, who has not opened a demat account and has not made any transactions in the derivative segment as on the date of notification of the scheme, will fall under the definition of ‘new retail investor’.

Also, any individual who has opened a demat account before the scheme’s notification, but has not made any transactions in the equity segment or the derivative segment till the date of notification, will be considered as ‘new retail investor’.  The holding period of eligible securities is three years, with fixed lock-in of first year and a flexible lock-in period of two years.

Final word

This scheme is just to popularize former PM name to get brownie points in forthcoming election.  Many investors who have already burnt their fingers would not be interested and therefore govt is targeting fresh investors to boost equity market.  Please be aware that there is no  guarantee on returns of your investment and this is high risk investment as shares are purchased by newbie investors who often make mistake.  Young investors with high-risk appetite can use this to save tax.

AssuredGain provides comprehensive tax-planing solution.  Feel free to call 9962439282 for free investment review.

Related posts:

  1. 10 Tax saving strategies for salaried individuals
  2. Tax saving is not enough! Go ahead do Tax Planning!
  3. Rajiv Gandhi Equity Savings Scheme –2012
  4. What are the Advantages to Having Life Insurance?
  5. How to become Crorepati in a few short steps !
  6. Eighth Wonder of the World to get Rich – The Power of Compounding
  7. Retirement Planning india for 50+
  8. How to e-file your tax returns
  9. Financial Planning- How is the lizard part of your brain costing you money?
  10. Highlights of Union Budget 2014-15 India

Primary Sidebar

Recent Posts

  • SBI Life Retire Smart Pension Plan Reviews – Good or bad?
  • What is succession planning and why its important?
  • Bajaj Allianz Life Guaranteed Pension Goal Review- A Guaranteed Trap
  • 2021 Guide to Term life vs Whole life insurance
  • Stock-market Versus Whole-life insurance – Is your money committed or in a relationship

About Us

AssuredGain is a leading wealth management firm specialising in financial planning based in Chennai. We offer all the services traditional financial planners offer, except that at AssuredGain, we do things a little differently……and these differences mean we’re able to maximise your financial success and help you enjoy today – and retire life ready, certain you have enough.

More About Us

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Archives

  • March 2022
  • November 2021
  • July 2021
  • March 2021
  • October 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • August 2019
  • July 2019
  • May 2019
  • March 2019
  • September 2018
  • June 2018
  • December 2017
  • July 2017
  • March 2017
  • May 2015
  • November 2014
  • July 2014
  • May 2014
  • April 2014
  • February 2014
  • January 2014
  • December 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012

Connect with Us

Address: 5/318, Old Mahabalipuram Road, Oggiyampet, Chennai: 600097
Phone: +91-7200039282
Email: info@assuredgain.com

  • +91-7200039282
  • info@assuredgain.com

Tags

Advanced planning Bajaj Allianz- Best financial planner in Chennai Certified financial planner Chennai Chennai Chennai Financial planning education planning Financial Advisor financial freedom financial planner chennai Financial Planning Financial planning chennai Financial planning for singles financial products for women health insurance investment Investment Advice Investor Education LIC policy life insurance Money Money & Finances NCFM ncfm exam ncfm registration ncfm study material Permanent Total Disability personal accident policy policyholder Rajiv Gandhi Equity Savings Scheme real estate Real estate investments retirement planning for seniors retirement planning lic retirement plans india Save Tax savings sensex stockmarket Tax planning Top financial planners in Chennai Wealth Coach wealth management wealth manager Wealth Protection | Tagged insurance

Our Newsletter

Subscribe to our newsletter to get the latest updates from our blog. We respect your privacy.
+91 72000 39282

About Us

Footer

© 2022 ASSUREDGAIN FINANCIAL PLANNERS | All Rights Reserved.