RAJIV GANDHI EQUITY SAVINGS SCHEME,2012 -- Notification No.51/2012 Dated 23/11/2012

Some of the salient features of the scheme as per subject line are as below :-

Rajiv Gandhi Equity Savings Scheme, 2012

1.)Deduction of Rs.50,000 allowable from taxable income under newly inserted section 80CCG sub-section (1) of Income Tax Act, 1961.

2.)Deduction allowable on investment in Specified Equity Shares (BSE-100 or CNX-100/Equity Shares of Specified Public Sector Enterprises/Specified IPO's/FPO's/Mutual Fund/Exchange Traded Fund (ETF) including Gold ETF.

3.)  Deduction allowable only through opening of New Demat Account.

4.)  Investment has lock-in-period of Three Years.

5.)The said scheme shall come into force on the date of its publication in the Official Gazette.

Copy of Notification attached for ready reference.

Rajiv