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Saturday, January 26, 2013

RGESS Scheme (80CCG) Invest or Not ?

Every alternate  year govt. announced new scheme for Tax Saving Purpose. This Year Launched New Scheme RGESS  (80CCG). And close good Scheme Tax Saving Infrastructure Bond (80CCF).

Rajiv Gandhi Equity Saving Scheme (RGESS) is a new equity tax advantage saving scheme introduced for the first time equity investors in India. This scheme was announced in the 2012-13 budget by the Finance Minister of India.

 RGESS - Highlights 

  • If your Taxable Income below 10 lakhs
  • Your are first time investor in Equity ( Share Market). 
  • Lock in Period 3 years for your investment.
  • Investment Limit 50000. You may save 50% of the total amount you invested. (If you invest 50000 then you can deduct 25000 in your Gross Income)

Is it good to Invest in this Scheme ?

Check below point before investing & decide yourself is it good for you.
  • You opted this Scheme you take benefit this year only. Next year you are not First time Investor.
  • Are you Interested to Invest in Direct Equity Market. If you not invest yet then how possible you take market risk. 
  • The Scheme can work for investor who believe in equity. Who believe in Equity and ready to invest, but they can't invest in this scheme.
  • How you Save Tax : 
    • Limit under scheme : 50000
    • Your deduction amount is 25000
    • If you are in 20% Tax Bracket  -  5000 Saving
    • If you are in 10% Tax Bracket -  2500 Saving
  • Maintaining Cost : 
    • D'mat Account expenses - 
      • Account opening charges  - appr. 400 to 800 (one time)
      • Yearly Dmat charges         -  appr.  400 to 800 ( yearly for next to years)
    • Approximate Rs.1500  for maintaining your account.
  • Returns from this Scheme
    • Depends upon market conditions. 
    • No fixed returns

You are saving around 3000 (20% Tax Slab) &  1500 (10% Tax Slab) in this scheme. 

It's your choice to pay Rs.3000 Tax or invest in this Scheme.

Good Luck...................................

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