Career Search

Thursday, January 30, 2014

RGESS Tax Saving benefit above the Sction 80C exemption

Download Tax Saving Mutual Fund Application Forms

Invest In Tax Saving Mutual Funds Online

Buy Gold Mutual Funds

Leave a missed Call on

94 8300 8300

 

 

RGESS aims to encourage first time investors to invest in equity markets. This scheme would give tax benefits to new investors whose annual income is below Rs 12 lakh. This benefit is available for three successive years and above the existing one lakh exemption U/S 80C.

 

Investments in RGESS are capped at Rs 50,000 per individual, with a tax deduction of 50 per cent on the amount invested. The scheme allows investments only from fresh investors who have never traded in equities through a demat account. Investors in equity funds, and those holding physical share certificates are eligible. RGESS investments have a lock-in period of three years. However, one is allowed to trade in them after the first year on certain terms and conditions. These conditions require you to maintain your demat account at a value equal to or higher than the amount claimed for tax deduction.

 

To put it simply, if you invested Rs 50,000 in the first year which becomes Rs 55,000 after a year; you will need to have equity worth Rs 55,000 or more in your account at any point of time in the second and third year. You need to buy equities worth the amount you sell. RGESS has been regarded as a complicated product, invest only if you understand the instrument.

 

There are many ETFs that qualify under the Rajiv Gandhi Equity Savings Scheme. Nifty-based ETFs are as as good a choice as any.

 

 

 

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

 

 

Leave a missed Call on 94 8300 8300

 

Leave your comment with mail ID and we will answer them

OR

You can write back to us at

PrajnaCapital [at] Gmail [dot] Com

 

---------------------------------------------

Invest Mutual Funds Online

Invest Any Mutual Fund Online

 

Download Mutual Fund Application Forms from all AMCs

Download Mutual Any Fund Application Forms

---------------------------------------------

 

Best Performing Mutual Funds

    1. Largecap Funds             Invest Online
      1. DSP BlackRock Top 100 Fund
      2. ICICI Prudential Focused Blue Chip Fund
      3. Franklin India Bluechip
      4. ICICI Prudential Top 100 Fund

B. Large and Midcap Funds         Invest Online

      1. ICICI Prudential Dynamic Plan
      2. HDFC Top 200 Fund
      3. UTI Dividend Yield Fund
      4. Birla Sun Life Front Line Equity Fund
      5. Franklin India Prima

C. Mid and SmallCap Funds          Invest Online

      1. Reliance Equity Opportunities Fund
      2. DSP BlackRock Small & Midcap Fund
      3. Sundaram Select Midcap
      4. IDFC Premier Equity Fund
      5. Birla Sun Life Dividend Yield Plus
      6. SBI Emerging Businesses Fund
      7. HDFC Mid-Cap Opportunities Fund
      8. ICICI Prudential Discovery Fund

D. Small and MicroCap Funds   Invest Online

      1. DSP BlackRock MicroCap Fund

2.       Franklin India Smaller Companies

E. Sector Funds          Invest Online

      1. Reliance Banking Fund
      2. Reliance Banking Fund
      3. ICICI Prudential Banking and Financial Services Fund

F. Tax Saver Mutual Funds      Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
      2. Reliance Tax Saver (ELSS) Fund

G. Gold Mutual Funds        Invest Online

      1. Relaince Gold Savings Fund
      2. ICICI Prudential Regular Gold Savings Fund
      3. HDFC Gold Fund
      4. Birla Sun Life Gold

H. International funds         Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

No comments: