Rajiv Gandhi Equity Savings Scheme (RGESS) Liberalised
Rajiv Gandhi Equity Savings Scheme (RGESS) – A Income Tax saving Scheme for additional savings up to Rs. 50,000 over and above Rs. 1 Lakh limit permitted under Section 80C of the Income Tax (IT) Act
The Union Finance Minister Shri P. Chidambaram approved a new tax saving scheme called “Rajiv Gandhi Equity Saving Scheme“(RGESS),exclusively for the first time retail investors in Securities Market. This Scheme would give tax benefits to new investors who invest up to Rs. 50,000 and whose annual income is below Rs. 10 lakh.