How can I open Rajiv Gandhi equity scheme online?

How can I open Rajiv Gandhi equity scheme online?

Open a new demat account with any DP of NSDL. If you already have a demat account and you are eligible, designate your demat account under RGESS. To designate your demat account under RGESS, submit a declaration in Form A to your DP. Start investing.

Is Section 80CCG still valid?

Note : Deduction under section 80CCG has been discontinued starting from 1st April 2017. The Rajiv Gandhi Equity Savings Scheme was introduced in Budget 2012. This deduction was over and above the 80C deduction available to individuals.

How do I invest under 80CCG?

Investments Eligible under Section 80CCG

Equity shares falling in the list of securities declared as BSE-100 or CNX-100 will be eligible for Section 80CCG deduction. Also, equity shares of public sector enterprises (PSUs) which are categorised as Maharatna, Navratna or Miniratna by the Central Government are eligible.

What is 80CCG exemption?

Section 80CCG of the Income Tax Act offers incentives through means of tax deduction to taxpayers who invest in the equity market of the country. This section was recently added to encourage individuals to invest in equities, enticing first time investors with tax deductions on their first investment.

What is 80CCG Rajiv Gandhi equity scheme?

Under Section 80CCG of the Income Tax Act, investors qualify for a 50 percent deduction of the amount that is invested during the course of the year, with up to a maximum of INR 50,000 investment per financial year from their taxable income, for three continuous assessment years.

Is ELSS covered under 80CCG?

ELSS mutual funds are the only class of mutual funds that are covered under Section 80C of the Income Tax Act, 1961. By investing in an ELSS, you are entitled to claim a tax rebate of up to Rs 1,50,000 a year.

How do I claim 80GGC deduction?

Procedure to avail of Deductions under Section 80GGC
Donations made to political parties should be made solely through legitimate banking portals such as online internet banking, cheques, debit cards, credit cards, demand drafts etc. in order to claim deductions under this section.

Does ELSS comes under 80ccg?

How can I save tax over 10 lakhs?

How to Save Tax for a Salary Above Rs 10 Lakhs?

1. Reduce Your Taxable Income by Up To Rs 1.5 Lakhs (Section 80C, 80CCC, 80CCD)
2. Additional Reduction of Up To Rs 50,000 for NPS Investors (Section 80CCD.
3. Reduce Your Taxable Income by Up To Rs 75,000 (Section 80D)
4. Reduce Your Taxable Income by Up To Rs 2 lakhs (Section 24)

Is ELSS taxable after 3 years?

The Long-Term Capital Gains on ELSS are tax-exempt up to Rs 1 lakh, and dividend received is tax-free in the hands of investors. You can continue to invest in this scheme even after the completion of the lock-in period of three years.

Can I claim 80G and 80GGC both?

You can claim a deduction under Section 80G of the Income Tax Act for contributions made to certain relief funds and charitable institutions. All donations, however, are not eligible for deductions under Section 80G. Only donations made to prescribed funds qualify as a deduction.

Do I need to submit proof for 80GGC?

The receipt issued by political party or electoral trust to produce a proof of the amount contributed. It should contain the name, address, Pan Number, registration number of the trust/party, name of the donor, mode of payment and the amount donated in words and numbers.

How can I get zero tax on 15 lakhs?

1. Reduce Your Taxable Income by Up To Rs 1.5 Lakhs (Section 80C, 80CCC, 80CCD)

1. Unit Linked Insurance Plans (ULIPs)
2. Pension or Annuity Plans from Life Insurance Companies.
3. Public Provident Fund (PPF) & Employee Provident Fund (EPF)
4. New Pension Scheme Tier-I Account.
5. Senior Citizen Savings Scheme.

How much tax do I pay on 15 lakhs?

Income tax slabs for new and old regime

What are the disadvantages of ELSS?

What are the Disadvantages of ELSS Funds? High risk ELSS Funds: ELSS mutual funds have a huge exposure to equity markets. Equity related instruments are highly susceptible to market volatility. Hence, due to this ELSS mutual funds carry high risk.

Is ELSS returns tax free?

Is proof required for 80G?

Receipt: To claim deduction u/s 80G, you need a receipt of donation to back your claim. The receipt should provide details like Name, Address, PAN, registration number of the trust & the name of the donor as well as the amount of donation and mode of payment.

Which donation is eligible for 100% deduction?

100% Deductible without Qualifying Limit
National Defence Fund set up by the Central Government. Prime Minister’s National Relief Fund. Prime Minister’s Armenia Earthquake Relief Fund. Africa (Public Contributions – India) Fund.

How can I avoid tax on 12 lakhs?

Tax Deductions under Section 80(C)

1. Investments in PPF (Public Provident Fund)
2. Investments in EPF (Employee Provident Fund)
3. Investments in ELSS funds (Equity-Linked Savings Scheme)
4. Investments in NSC (National Savings Certificates)
5. Payment of premiums against Life Insurance Policies.

How much tax do I pay on 10 lakh salary?

Income tax slabs for new and old regime

How much income is tax free in India?

If your income is below ₹2.5 lakh, you do not have to file Income Tax Returns (ITR).

What is the tax for 1 crore?

1 Crore and Rs. 10 Crore.
…
Domestic Company.

Is ELSS better than sip?

There is no difference between ELSS and SIP as such. ELSS funds have a lock-in period of at least three years. Meaning, you cannot withdraw your money for three years. If you invest in ELSS via SIP route, each investment will be locked in for a period of three years, from their respective investment date.

Can I withdraw ELSS after 3 years?

If you have made your ELSS Mutual Fund investment via the lump sum route, i.e., at one go, all your units will be allotted on the same day. And therefore, once the 3 year lock-in period is over, you can redeem your entire ELSS investment in one go.

Is ELSS tax free after 3 years?