Rajeev Ghandhi Equity Saving Scheme
Small investor’s choice
→ Attraction of profit from share market
→ Tax Benefit from Govt.
Qualification – who can invest in this Scheme?
→ Your yearly income should be no more than 12 lakhs.
→ You are first time using Demat account for share market,
In this scheme you can invest in mutual fund, Bond, debenture etc.
Profit of RGESS
- If you are thinking about first time invest in share, can be invest in Top 100 companies listed in BSE and NSE, Maharatna, Navratna or Mini Ratna.
- You can be investing in Govt. top company’s FPO, Exchange Trade Funds (ETF) or associate mutual funds.
Maximum limit of investment
Maximum limit of saving amount is Rs. 50,000.00
- Tax benefit is 50% of amount. if you deposited Rs 50,000 than benefit amount is Rs. 25000.00 only.
- Maximum Tax benefit is Rs. 2575 in 10 % slab, Rs. 5 % in 20% slab.
Time Period of Investment
Under this Scheme your money deposited for 3 years.
Theory of Time Period
As finance theory predicted that long term invest always able to give profit. Same theory works behind RGESS.
RGESS allow to withdraw your money in second and third year but your average invest should be consistence as in start.
If you invest with installment you will be eligible for Tax Benefit since date of complete last installment for 3 years.
Risk factor work also. Up and down of share market due to the different factor determine value of investment.
Investment is a art to manipulate your money toward Growth and as expert predicted, time factor is a important substance in growth of your money.
Be smart and understand the key note of investment wisely…………….!