1. Equity shares falling in the list of securities declared as "BSE-100" or " CNX-100".
2. Equity shares of public sector enterprises which are categorised as Maharatna, Navratna or Miniratna by the Central Government
3. Units of Exchange Traded Funds (ETFs) or Mutual Fund (MF) schemes which have securities eligible under Rajiv Gandhi Equity Savings Scheme (RGESS) as underlying, provided they are listed and traded on a stock exchange and settled through a depository mechanism.
4.Follow on Public Offer of eligible securities.
5. New Fund Offers (NFOs) of eligible ETF's and mutual funds.
6. Initial Public Offer of a public sector undertaking wherein the government shareholding is at least fifty-one per cent. which is scheduled for getting listed in the relevant previous year and whose annual turnover is not less than four thousand crore rupees during each of the preceding three years;
The maximum Investment permissible under the Scheme is Rs. 50,000 and the investor would get a 50% deduction of the amount invested from the taxable income for that year. The benefit is in addition to deduction available u/s Sec 80C.
Is this tax deduction of maximum of Rs.50,000 over and above limit of Rs.1,00,000 that is currently available for me under section 80C of income tax act ?
How much tax benefit you will get if you invest Rs.50,000 in RGESS?
Tax Savings of Rs 2575 for investors under 10% slab
Tax Savings of Rs. 5150 for investors under 20% slab
An investor is not permitted to sell, pledge or hypothecate any eligible investment during the fixed lock-in period.