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Differences between ELSS and RGESS
Rajiv Gandhi Equity Savings Scheme is a tax savings scheme. The scheme is designed for first time retail investors in the securities market. Under RGESS, investors gets tax benefit under 80CCG.
Equity Linked Savings Scheme (ELSS) provide you with tax benefits under section 80C of the Income Tax. Unlike any other equity mutual fund schemes, ELSS comes with a lock-in period of three years, because they provide you with Section 80C benefits.
ELSS and RGESS are different schemes and belong to different asset classes.
| Operational Differences | |
| ELSS | RGESS |
| Investments in mutual funds | Investments are made directly in listed equities ( Combination including of mutual funds and ETF) |
| 100% deduction upto Rs 1,00,000 is allowed | only 50% deduction upto Rs 25,000 is allowed |
| Lock in period of 3-years | Lock in period of 3-years. However, trading is allowed after one-year, subject to conditions. |
| Investments are in mutual funds, it is percieved to be less risky | Investments are in equities, risk is percieved to be higher. |
| The scheme will come under tax benefit of 80C |
The scheme will come under 80CCG. This is a seperate investment limit for RGESS, over and above the section 80c limit. |
Click to know list of mutual funds offering RGESS.
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