Get tax benefit through Rajiv Gandhi Equity Savings Scheme

For all those tax payers who have never had any exposure in the stock market let the year 2013  be their first year for  investing in the stock market. Firstly the action plan to enter into the stock market would be to open a Demat Account in your name. To inspire all those who have never had any exposure in the stock market tax incentive is being made available in the Income-tax Law in terms of the provision contained in section 80CCG whereby first  time investors in the stock market can go in for making investment up to Rs. 50,000 and enjoy a tax deduction equal to 50 per cent of such investment.  Thus, tax saving can be made by taking an exposure to Rajiv Gandhi Equity Investment Scheme and thereby cutting down your tax payment by Rs. 2,500 to Rs. 5,000. 

The author is Tax and Investment Consultant at New Delhi for last 40 years.  He is also Director of M/s R.N. Lakhotia & Associates LLP & The Strategy Group.E-mail : slakhotia@airtelmail.in