Noting that "limited number of individuals availed this deduction", the Union Budget 2017-18 today proposed to rationalise this tax benefit introduced in Finance Act, 2012 and phase it out from assessment year 2018-19.
Budget may not introduce big changes. However there can be some small changes in tax rates, tax slabs and modifications in instruments that fetch tax exemption.
The Rajiv Gandhi Equity Savings Scheme (RGESS) is a stretcher case, but the Congress party â€“ which introduced it in the 2012-13 UPA budget, refused to let go despite a change in finance ministers.
The new fund offer -- LIC Nomura MF Exchange Traded Fund CNX Nifty -- will close on November 16.
Watch the interview of Srikanth Meenakshi, FundsIndia.com with Reema Tendulkar & Sumaira Abidi on CNBC-TV18, in which he spoke about Rajiv Gandhi Equity Savings Scheme (RGESS).
There are often questions in the mind of investors whether a mutual fund that they have chosen for the purpose of investment will get the benefit of Section 80C deduction.
Allowing MF houses to launch RGESS has given MF industry a good opportunity to attract long-term investors. However, it seems MF houses have still not learned lessons from their past mistakes. They still want to use the old trick of paying high commissions to distributors. Will it lead to mis-selling of RGESS? Read this space to know more.
In an interview to CNBC-TV18 personal finance expert, Sumeet Vaid of Freedom Financial Planners shared insights on Rajiv Gandhi Equity Savings Scheme or RGESS.
The four major macro concerns that have been weighing on the confidence of investors and rating agencies for the last several months are India's high fiscal and current account deficits and the dwindling savings and investment rates. And in my opinion, the Budget has effectively addressed all these issues.
It was expected that the government will roll out host of measures in order to revive the economy and the investment scenario. However not all the expectation has been met, but the measures proposed are positive for the Mutual Fund Industry, reckons Anil Rego
Finance Minister P Chidambaram today proposed liberalising the Rajiv Gandhi Equity Savings Scheme to enable first time investors to park funds in MFs and listed shares and extended tax benefits to three successive years.
In a bid to boost retail investors' participation in the capital markets, the Finance Minister - P Chidambaram expanded the reach of Rajiv Gandhi Equity Savings Scheme, a programme that allows tax breaks to first-time stock market investors.
While India‘s Annual Budget is important to understand the Government‘s planned revenue and expenditure, it is equally important to the common man to understand how his finances shape up as a result of this event.
Reliance Mutual Fund today launched R* Shares CNX 100 Fund, which allows investors to avail all benefits under the Rajiv Gandhi Equity Savings Scheme (RGESS).
This Article contains all important points concerning the new Rajiv Gandhi Equity Savings Scheme - 2012. The various FAQs will bring home complete answers to tax payers on all aspects connected with this new scheme.
Lock-in period for tax saving deposits be brought down to three years from the current five years to bring it on par with tax saving equity linked savings schemes and to channelize more funds into the banking sector.
sdsdsSBI Mutual Fund launches SBI Sensex ETF, an RGESS Eligible Mutual Fund Scheme.
SEBI chairman UK Sinha on Saturday said there was a need to make the Rajiv Gandhi Equity Savings Scheme (RGESS) more appealing for middle-income investors.
Not happy with CSO's growth projection, Finance Minister P Chidambaram today said there are signs of upturn in the economy and it is likely to grow at a higher rate of 5.5 per cent this fiscal and further improve to 6-7 per cent in 2013-14.
In the pool of tax savings instrument, financial institutions have added one more option called 'Rajiv Gandhi Equity Savings Scheme' (RGESS). This scheme attempts to encourage first time investors to invest in equity, directly or indirectly, and avail tax benefits. Read this space to know if you should be investing directly or through MF.
Wanting to invest in Rajiv Gandhi Equity Savings Scheme but not sure how it works? Read this space to get understanding of the schemes and to know if you should be investing in the same.
IDBI Asset Management Company today said it has received market regulator Sebi's approval to launch the Rajiv Gandhi Equity Savings Scheme, series I.
LIC Nomura Mutual Fund has obtained approval from Sebi to launch the Rajiv Gandhi Equity Savings Scheme (RGESS)
Fund houses have begun lining up mutual fund schemes focused on the government's newly proposed Rajiv Gandhi Equity Savings scheme (RGESS), which aims to attract first-time small investors into the capital market by offering them tax benefits.
Let us all welcome the year 2013 with varied ideas to bring home tax planning for you and your family and also take you through Investment Strategies for investing your money.