The Rajiv Gandhi Equity Savings Scheme (RGESS) is a tax-saving investment option designed to encourage retail investors to invest in the stock market. It offers income tax deductions under Section 80CCG, benefiting investors with a gross annual income of up to ₹12 lakh. RGESS promotes long-term equity investments, making it an attractive choice for new investors seeking tax benefits
The eligibility criteria for the scheme are mentioned below:
The main benefits of the RGESS are mentioned below:
Benefits towards the RGESS can be availed for three years consecutively. Benefits begin from the financial year during which the investments have been made under the scheme for the first time.
Individuals can invest in eligible securities under this scheme. The schemes that are considered as eligible securities under the scheme are:
RGESS scheme invests in mutual funds or listed equities while ELSS invests only in mutual funds. Moreover, ELSS has more advantages over RGESS as ELSS allows 100% deductions to be claimed. In ELSE any investor can claim tax benefits, while the same is not valid for RGESS. RGESS allows only new retail investors with zero trading history to claim tax benefits.
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