You may be aware that Government of India has introduced “Rajiv Gandhi Equity Savings Scheme (RGESS)” for new and small investors which provides for Tax benefit under section 80CCG of the Income Tax Act. The scheme is designed exclusively for the first time retail individual investors with annual taxable income less than or equal to Rs. 10 lakh who can invest upto Rs. 50,000 in prescribed securities and claim a 50% deduction of the amount invested from the taxable income for that year. This scheme is different from the Equity Linked Savings Schemes (ELSS) and the tax benefit as mentioned above is available over and above the benefit available under section 80C of the Income Tax Act.
CDSL has been designated as one of the depositories to facilitate RGESS and takes pleasure in introducing the scheme to our esteemed investors through our various depository participants located across the country.
For any information / clarifications on RGESS, please click on
or
contact your Depository Participant.
Regards,
CDSL(Convenient Dependable Secure)
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