A few years ago, the government had introduced the Rajiv Gandhi Equity Saving Scheme (RGESS) to encourage more people to invest in equity.The scheme provided tax savings on 50% of the investment up to Rs. The need for promoting the equity culture stems from the fact that India is a very young country with a median age of less than 30 years. Rajiv Gandhi Equity Savings Scheme (RGESS) is a scheme announced in the Union Budget (2012-13) by the Finance Minister to encourage flow of savings in domestic capital markets. Named after Rajiv Gandhi, the sixth Prime Minister of India, the scheme was announced by the finance minister, P. Chidambaram, on 21 September 2012. SBI MF is … In the Union Budget 2013-2014, the Indian Government further expanded the scheme by providing ‘New Retail Investors’ tax benefits. Apart from improving the quality of domestic capital markets and encouraging the flow of savings, the scheme also wants to bring about ‘equity culture’ in the country. This scheme is a relatively new financial instrument introduced to the Indian money market. Name of the Scheme. The tax deduction under this scheme is for new … Download Tax Saving Mutual Fund Application Forms. 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. Rajiv Gandhi Equity Savings Scheme is a tax savings scheme. Why the Rajiv Gandhi Equity Savings Scheme failed Premium Initially, RGESS was available to those who were first-time equity investors and had … Find latest news on mutual funds in India, get tips on mutual fund investments, performance, NAV and more. P. Chidambaram on September 21, 2012. Rajiv Gandhi Equity Saving Scheme (RGESS) Following are the RGESS compliant Mutual … IDBI Rajiv Gandhi Equity Savings Scheme Series 1. now IDBI has also filed a prospectus for their own RGESS Fund, and it differs from the SBI RGESS fund in some fundamental ways. Stay on top of markets and mutual funds with Fundsupermart’s mobile application specially designed for investors of the fast-moving mutual fund industry! It is a tax-saving scheme which came into effect post the 2012-2013 Union Budget of India. 10 lakh. Named after Rajiv Gandhi, the sixth Prime Minister of India, the scheme was announced by the finance minister, P. Chidambaram, on 21 September 2012. T he choice of the scheme should be in line with an investor’s financial goals, risk profile, return expectations and investment horizon. Rajiv Gandhi Equity Savings Scheme – Returns, How to Invest, Risks, Tax Savings, Eligibility Rajiv Gandhi Equity Savings Scheme or RGESS was a mutual fund along with tax advantage that was offered by the Government of India to encourage flow of savings of small retail investors in the domestic capital market. The Rajiv Gandhi Equity Savings Scheme, is a tax saving scheme announced in the 2012-2013 Union Budget of India, aimed at first time retail investors. Category: Rajiv Gandhi Equity Savings Scheme Prepare at a time 50 & 100 employees Form 16 Part B as per the Finance Budget 2014-15 1) Download Master of Form 16 Part B for the Financial Year 2014-15 and Assessment Year 2015-16 [Prepare at a time 50 employees Form 16 Part B] Equity shares, which are part of BSE 100 and CNX 100 indices, on the day of purchase B. The deduction allowed is 50% of the amount invested with maximum limit of INR.25,000. Rajiv Gandhi Equity Savings Scheme (RGESS) With an objective to encourage flow of savings of the small investors in domestic capital market, the Government of India (GOI) announced a scheme named Rajiv Gandhi Equity Savings Scheme, 2012 (RGESS) in the Union Budget 2012-13 and further expanded vide Union Budget 2013-14 (Notification dated December 18, 2013) to offer tax benefits to ‘New Retail … Get all mutual funds calculators and comparisons. Comments - Join the Discussion. SBI Mutual Fund has filed offer with Securities and Exchange Board of India (Sebi) for Rajiv Gandhi equity saving scheme (RGESS) tax saving fund. This deduction is applicable to individual who has invested in shares or mutual funds that are listed for a given financial year. The proposed schemes are SBI RGESS Tax Saving Fund, IDBI Rajiv Gandhi Equity Saving Scheme - Series 1, DSP BlackRock RGESS Fund Series 1-5 and LIC Nomura RGESS Fund Series 1 and 2. The scheme is titled as - A Rajiv Gandhi Equity Savings Scheme B Rashtriya Equity Savings Scheme C National Equity Savings Scheme D Indira Gandhi Equity Savings Scheme E Prime Minister’s Equity Savings Scheme Answer: A. Goldman Sachs Mutual Fund has announced that investment in Goldman Sachs Nifty BeES, Junior BeES, Bank BeEs and S&P Shariah BeES is eligible for the benefits under Rajiv Gandhi Equity Savings Scheme (RGESS) as on December 11, 2012. As the name suggests, the primary investments are in equity scheme which also provides tax benefits. d. Follow-on Public Offers (FPOs) of (a) and (b) e. V. Chidambaram on September 21, 2012. Rajiv Gandhi Equity Saving Scheme 50% saving by Investing- Rs 50000 Rajiv Gandhi Equity Scheme Rajiv Gandhi Equity Saving Scheme to allow for income tax deduction of 50% to new retail investors (whose annual income is below Rs 10 lakh), who invest upto Rs 50,000 directly in equities. 3. The scheme is an exception for the first-time investors in security market. Notification No. It was announced in the Union Budget of 2012-13 and extended in 2013-2014. Rajiv Gandhi Equity Saving Scheme is usually a new equity place a burden on advantage savings scheme for equity investors in India, while using the stated objective connected with “encouraging the savings on the small investors inside the domestic capital marketplaces. HDFC Rajiv Gandhi Equity Savings Scheme Series 1 Regular Growth is a Equity Mutual Fund Scheme launched by HDFC Mutual Fund.This scheme was made available to investors on 17 Feb 2013. Rajiv Gandhi Equity Savings Scheme or RGESS is a new equity tax advantage savings scheme for equity investors in India, with the stated objective of "encouraging the savings of the small investors in the domestic capital markets." Now its Closed. RGESS & Benefits. Rajiv Gandhi Equity Savings Scheme or RGESS is a new equity tax advantage savings scheme for equity investors in India, with the stated objective of "encouraging the savings of the small investors in the domestic capital markets.". It was approved by The Union Finance Minister, Shri. P. Chidambaram on September 21, 2012. 30. Rajiv Gandhi Equity Saving Scheme eligible ETF's Invest In Tax Saving Mutual Funds Online. If yes, then the InvestOnline makes it easy for you to compa Uttar Pradesh: Slogans of "Pakistan Zindabad" raised in the Samajwadi Party's demonstration in … Ongoing Rajiv Gandhi Equity Savings Scheme (RGESS) RGESS is an acronym for Rajiv Gandhi Equity saving scheme. Rajiv Gandhi Equity Savings Scheme (RGESS), is a tax saving scheme announced in the Union Budget 2012-13 (para 35) and further expanded vide Union Budget 2013-14 (para 61 & 144). ... First of all this is a close ended scheme where SBI RGESS was an open ended scheme. 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