Government has announced “Rajiv Gandhi Equity Savings Scheme – RGESS” with an objective of encouraging flow of savings of small investors in domestic capital market.
Eligible investors will get additional tax benefit of up to Rs.5,150 u/s.80-CCG by investing up to Rs.50,000/- in RGESS eligible securities/MF schemes. This benefit is over and above benefit u/s.80-C.
Please click here for a brief presentation on RGESS.
Mutual Fund houses have lined up exclusive schemes that would invest in RGESS eligible securities. By investing in them, investors will be eligible for additional tax benefit apart.
DSP BR RGESS Series 1
A 3 year close ended Equity Fund.
IDBI RGESS Series 1 Plan A – A 3 year close ended Equity Fund.
SBI Sensex ETF – An Exchange Traded Fund tracking BSE Sensex.
UTI RGESS Fund – A 3 year close ended Index Fund tracking Nifty.
Open your Demat account, invest in RGESS eligible securities / MF schemes & avail additional tax benefits.
Please note, the same Demat account can be used for other investments like MF ELSS, Gold ETF, Corporate Bonds etc.