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Can I invest in RGESS Scheme this year too

In FY 2015-16, I invested in Rajiv Gandhi Equity Savings Scheme for 3 years. I want to know whether, this scheme is available for this FY or not. Please let me know?

Aug 31, 2016 by Basudev, Barbil  |   Mutual Fund

Under the Rajiv Gandhi Equity Savings Scheme (RGESS), only the first time equity investors can invest up to Rs. 50,000 in approved stocks and mutual funds and claim income tax deduction on 50 per cent of the amount under Section 80 CCG of the Income Tax Act 1961.

The tax benefit under RGESS is available only for 3 consecutive years.

Currently this scheme in not available for subscription. Please keep a watch on our news section https://www.advisorkhoj.com/news. If any scheme launches in near future, you will get to know from here.

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