Latest News
-
Aadhaar POI, POA Update: How To Submit Your Updated Identity, Address Proof Documents Online? -
Infosys Q4 Profit Surges 30% to Rs 7,969 Crore, Eyes Future Growth -
China Offloads $22.7 Billion in US Treasury Amid Growing Tensions -
7:1 Bonus, Rs 778.75/Sh Dividend In 20 Yrs: Infosys To Offer Massive Rewards, Up Next Rs 28/Sh Payout Soon -
1:1 Bonus, 16.50/Share Dividend: NBFC To Recommend Dividend, Buy For TP Rs 900: Motilal Oswal -
Infosys Q4 Results: Cons PAT Shoots Up 30% YoY To Rs 7,975 Crore; FY25 Guidance Here -
Gold Prices In US: Yellow Metal Rates Propel To Record Highs Amidst Escalating Middle East Tensions -
Tata Motors To Utilise New $1 Billion TN Plant For Jaguar Land Rover Cars -
Closing Bell: Market Erases Early Gains To End Lower; Sensex & Nifty Plummet; HDFC Bank & ICICI Bank Weigh -
HDFC Life Q4 Results: PAT Soars 15% To Rs 411 Cr; Rs 2/Share Dividend Declared
LIC Nomura MF unveils RGESS Series 1; NFO closes on Feb 25
This scheme will come under tax benefits under Section 80 CCG. This is a scheme which give tax benefit for new investors who invest up to Rs 50,000 and whose annual income is below Rs 10 lakh.
The New Fund Offer (NFO) will open for subscription on February 9, 2013 and close on February 25, 2013.
However, the scheme will not be open for subscription on an ongoing basis.
Investment Objective:
The investment objective of the Schemes is to seek to generate capital appreciation, from a portfolio that is substantially constituted of equity securities which are specified as eligible securities for Rajiv Gandhi Equity Savings Scheme (RGESS). The Scheme may also invest a certain portion of its corpus in cash & cash equivalent and money market instruments from time to time.
Under the RGESS, the maximum Investment permissible under the Scheme is Rs. 50,000 and the investor would get a 50% deduction of the amount invested from the taxable income for that year.
Dividend payments under the scheme are tax free. Lock in period is 3 years, in case you wish to get a tax deduction over & above Section 80C.
GoodReturns.in
