HomeINCOME TAX

Rajiv Gandhi Equity Savings Scheme(RGESS) Liberalised – Income limit raised upto 12 lakh

Ministry of Finance28-February, 2013

Rajiv Gandhi Equity Savings Scheme(RGESS) Liberalised

The Finance Bill 2013-14 proposes liberalisation of the Rajiv Gandhi Equity Savings Scheme(RGESS) that was launched in FY 2012-13. The first time investors will now be allowed to invest in mutual funds as well as listed shares. This investment can be done not in one year alone, but in three successive years. Presenting the Union Budget in the Lok Sabha today, the Finance Minister Shri P.Chidambaram said that the income limit is also being proposed to be raised from Rs.10 lakh to Rs.12 lakh.

PIB
(Release ID :92739)

Stay connected with us via Facebook, Google+ or Email Subscription.

Subscribe to Central Government Employee News & Tools by Email [Click Here]
Follow us: Twitter [click here] | Facebook [click here] Google+ [click here]
Admin

COMMENTS

WORDPRESS: 1
  • This investment can be done not in one year alone, but in three successive years. …
    That means in Total three successive years only 50,000 can be invested or
    every year you can invest 50,000 x 3 = 1,50,000 & for each year you get Tax benefit for successive years.
    Pl. Clarify