80ccg

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This query is : Resolved

C.A. Girish R Dalwadi (Querist)

15 February 2014 Dear All, As per amended Section 80CCG "Rajiv Gandhi Equity Saving Scheme", "Deduction under this section shall be allowed for 3 consecutive years, beginning with the assessment year relevant to the previous year in which the listed equity shares or listed units were first acquired by the new retail investor." Now my question is that if I am a new retail investor and I invest Rs. 50000 in A.Y. 14-15. Now I don't invest in any listed shares or units in subsequent years. Whether I will get the deduction of Rs. 25000 for A.Y. 14-15, 15-16 and 16-17 each. i.e. the total deduction available will be Rs. 25000*3= Rs. 75000 by just investing Rs. 50000 in A.Y. 14-15? Or I will be eligible to invest for three Assessment Years than I will get the deduction of Rs. 25000 each for 3 consecutive assessment years.

Read more at: https://www.caclubindia.com/forum/amended-sec-80ccg-rgess-251229.asp#.Uv8ZrKI8tkg

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@VaibhavJ

@VaibhavJ (Expert)

16 February 2014 Hi

You wont get benefit unless you invest in rest of 2 years.

If you invest 50K in 1st year you dont get any benefit in 2nd & 3rd year, However if you invest 30K in 1st year in subsequent year you can claim benefit of rest unclaimed Rs. 20k.

Thx

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