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17. Rajiv Gandhi Equity Saving Scheme (RGESS)
1) What is Rajiv Gandhi Equity Saving Scheme (RGESS)?

Q: What is Rajiv Gandhi Equity Saving Scheme (RGESS)?

A: Rajiv Gandhi Equity Savings Scheme (RGESS) is a tax saving scheme announced in the Union Budget 2012-13 (para35). The scheme is designed exclusively for first-time retail individual investors in the equity market, whose gross total income for the year is less than or equal to Rs 10 lakh. The investor would get under Section 80CCG of the Income Tax Act, a 50% deduction of the amount so invested, upto a maximum investments of Rs 50,000, from his/her taxable income for the year.

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