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Income Tax

Can I Take Tax Benefit on RGESS Every Year ?

The Scheme, as such, is designed for only the first time new investors. Since they can be ?ew?only in the first year of entering the market, the benefits of the Scheme is limited to only one year for a particular beneficiary, i.e., the tax benefit can be availed of only to the extent of investments made in a single financial year in which the investor makes the first RGESS eligible investment after opting for the RGESS account. The limitation of...

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Income Tax

How much tax deduction will I be eligible for under RGESS?

You will be eligible to get tax deduction u/s 80CCG on 50% of the amount invested. Let us say, you invest Rs.50,000 under RGESS, the amount eligible for tax deduction will be Rs.25,000 from your taxable income. Let us say, you invest Rs.40,000 under RGESS, the amount eligible for tax deduction will be Rs.20,000 from your taxable income. This deduction is over and above Rs. 1 lakh limit specified under Section 80C. In other words, for those who are in...

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Income Tax

How Can I Avail Tax Benefit Under RGESS ?

The tax deduction for RGESS is u/s 80CCG and it is over and above the Rs. 1 lakh limit specified under Section 80C. Further, it is not mandatory for citizens to exhaust the limit of Rs 1 lakh specified under Section 80C to make investments under Section 80CCG for RGESS.

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Income Tax

Can I invest more than Rs.50,000 and claim tax benefit under RGESS?

One may invest any amount in a demat account designated under RGESS, but the benefit under the Scheme can be claimed only on investment up to Rs. 50,000. However, you have the freedom to select the stocks to be kept under lock-in for upto Rs. 50,000 for claiming benefits under RGESS. It may be noted that the depository would be automatically locking-in all the eligible securities which comes into an RGESS designated demat account during the first financial year upto...

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Mutual Fund

How To Invest in RGESS ?

Open a new demat account with any DP and designate it under RGESS or designate your existing demat account under RGESS through Form A. If you want to avail of Basic Service Demat Account facility, you may inform your DP to designate your account accordingly. You may approach any SEBI registered stock broker for opening a trading account for making investment in any eligible stocks in the stock market or for applying for eligible IPOs. In case you are investing...

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Mutual Fund

How To Add Nominee To Mutual Fund Scheme ?

The nomination can be made by individuals applying for / holding units on their own behalf singly or jointly. Non-individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of Power of Attorney cannot nominate. For Adding Nominee Just Download the Nominee addition form from the Mutual Funds company specific website and send it to respective Mutual fund companies on address mentioned. Investors may also do it online through the individual Mutual Fund website or via...

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Mutual Fund

What is Gilt Fund ?

Funds which are invested exclusively in government securities and bond. Investor of Gilt funds have had no default risk as it is invested in Government securities. NAVs of these schemes also fluctuate due to change in interest rates and other economic factors as is the case with income or debt oriented schemes.

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Mutual Fund

What is Balance Fund ?

Balanced funds are such funds which are invested in 40-60% in equity and debt instruments.Such funds provide both growth and regular income as such schemes invest both in equities and fixed income securities in the proportion indicated in their offer documents. These are appropriate for investors looking for moderate growth. These funds are also affected because of fluctuations in share prices in the stock markets.

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