The Rajiv Gandhi Equity Savings Scheme (RGESS) is a new tax benefit scheme introduced for equity investment in select stocks, mutual funds and ETFs former Finance Minister P Chidambaram.
When RGESS was introduced the eligibility limit for first time investors was an income up to Rs 10 lakh, which has now been increased to Rs 12 lakh, by Finance Minister P Chidambaram.
Click to know on how to invest in RGESS.
The main benefits of investing in RGESS - Stocks identified as part of RGESS are the top 100 stocks of the country which also include the Maharatnas and mutual funds investing in equities. Investments in these stocks are eligible for tax benefit under section 80 CCG.
If you are eligible and planning to invest in RGESS here is the list of Mutual Fund scheme available for investment.
The RGESS compliant Mutual Fund schemes available for subscription.
|Name of the Mutual Fund||Name of the Scheme|
|Birla Sunlife Mutual Fund||Birla Sun Life NIFTY ETF|
|Goldman Sachs Mutual Fund||GS Junior BeES|
|GS Bank BeES|
|GS S&P Shariah BeES|
|GS Nifty BeES|
|India Infoline Mutual Fund||IIFL Nifty ETF|
|Kotak Mahindra Mutual Fund||Kotak Nifty ETF|
|Kotak Sensex ETF|
|Motilal Oswal Mutual Fund||Motilal Oswal MOSt Shares M50 ETF|
|Quantum Mutual Fund||Quantum Index Fund|
|Religare Mutual Fund||Religare Nifty Exchange Traded Fund|
|SBI Mutual Fund||SBI Sensex ETF|
|Name of the Mutual Fund||Name of the Scheme||Available for Subscription up to|
|DSP BlackRock Mutual Fund||DSP BlackRock RGESS Fund||08-Mar-13|
|HDFC MF||HDFC Rajiv Gandhi Equity Savings Scheme - Series 1 - February 2013||08-Mar-13|
|IDBI Mutual Fund||IDBI Rajiv Gandhi Equity Savings scheme||09-Mar-13|
|LIC Nomura Mutual Fund||LIC Nomura MF - RGESS Fund||25-Mar-13|
|UTI Mutual Fund||UTI Rajiv Gandhi Equity Savings Scheme||08-Mar-13|