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This document is a notification from the Government of India regarding the Rajiv Gandhi Equity Savings Scheme aimed at encouraging savings of small investors in the domestic capital market through
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How to fill out rajiv gandhi equity savings
How to fill out Rajiv Gandhi Equity Savings Scheme Notification
01
Start by visiting the official website or the designated platform for the Rajiv Gandhi Equity Savings Scheme (RGESS).
02
Download the RGESS Notification Form available on the website.
03
Carefully read the instructions and guidelines provided in the notification.
04
Fill in your personal details such as name, address, and contact information.
05
Provide your PAN (Permanent Account Number) details as required.
06
Indicate your investment amount and select the equity securities you wish to invest in.
07
Include any necessary supporting documents as specified in the notification.
08
Review the filled-out form for accuracy and completeness.
09
Submit the form electronically or in-person, as per the submission guidelines.
10
Keep a copy of the submitted form and acknowledgment for your records.
Who needs Rajiv Gandhi Equity Savings Scheme Notification?
01
Individuals looking to invest in equities and avail themselves of tax benefits under the Rajiv Gandhi Equity Savings Scheme.
02
First-time investors in the stock market who qualify for the scheme.
03
Taxpayers with an annual income of up to ₹12 lakhs who are eligible for the investment.
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People Also Ask about
Is RGESS still available?
Conclusion. The phasing out of Section 80CCG marks the end of the Rajiv Gandhi Equity Savings Scheme (RGESS) as a tax-saving tool. While this may have been an important scheme for first-time retail investors, there are still several avenues available to optimize tax savings.
How to claim 80CCG deduction?
Assessee's net income should not exceed ₹12 lakhs during the respective financial year. Only certain kinds of investments qualify for the 80CCG deduction. Investments made must be listed in equity shares under equity-based funds. Stocks have to be registered under the BSE 100 or CNX 100.
What is the 80CCG Rajiv Gandhi equity scheme?
Section 80CCG, also known as the Rajiv Gandhi Equity Saving Scheme, was an Indian program that offered tax breaks to encourage first-time investors in the stock market. It allowed a deduction of up to 50% of the invested amount, with a maximum of Rs. 25,000, on investments in specific stocks or mutual funds.
Is 80CCG still valid in India?
Note: Deduction under section 80CCG has been discontinued starting from 1st April 2017. If you are investing in equities for the first time, you can deduct a portion of the invested amount from your taxable income. This deduction is allowed under section 80CCG of the Indian Income Tax Act, 1961.
How to invest in Rajiv Gandhi's equity saving scheme?
Open a new demat account with any DP of NSDL. If you already have a demat account and you are eligible, designate your demat account under RGESS. To designate your demat account under RGESS, submit a declaration in Form A to your DP. Start investing.
How to invest in Rajiv Gandhi's equity scheme?
Open a new demat account with any DP of NSDL. If you already have a demat account and you are eligible, designate your demat account under RGESS. To designate your demat account under RGESS, submit a declaration in Form A to your DP. Start investing.
What is the limit of 80CCG?
The scheme, under section 80CCG, named Rajiv Gandhi equity saving scheme allows deduction of up to Rs 25000 per annum. This deduction is over and above the deduction of Rs. 1.5 lakh allowed under Section 80C.
Is 80CCG still valid?
No, Section 80CCG is not valid anymore. It was discontinued starting from the Assessment Year 2018-19. Tax benefits under the Rajiv Gandhi Equity Savings Scheme (RGESS) are no longer available for new investments.
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What is Rajiv Gandhi Equity Savings Scheme Notification?
The Rajiv Gandhi Equity Savings Scheme (RGESS) Notification is a government initiative aimed at encouraging small investors to invest in the stock market by providing tax benefits and incentives.
Who is required to file Rajiv Gandhi Equity Savings Scheme Notification?
Individuals who meet the eligibility criteria for the RGESS, including first-time equity investors with an annual income below a certain threshold, are required to file the RGESS Notification.
How to fill out Rajiv Gandhi Equity Savings Scheme Notification?
To fill out the RGESS Notification, eligible investors must provide personal details, income information, and details of their investments in eligible equities while following the prescribed format and guidelines issued by the government.
What is the purpose of Rajiv Gandhi Equity Savings Scheme Notification?
The purpose of the RGESS Notification is to promote equity investments among novice investors, enhance financial literacy, and boost the growth of the securities market in India.
What information must be reported on Rajiv Gandhi Equity Savings Scheme Notification?
The RGESS Notification requires reporting of personal identification details, income tax return information, investment details such as the names of eligible companies, and any other information as specified in the guidelines issued by the government.
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