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Rajiv gandhi equity saving scheme (rgess)

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Querist : Anonymous

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Querist : Anonymous (Querist)
01 January 2013 RGESS (80CCG)will be covered u/s 80C Limit 100000/- or separately u/s 80CCG for Rs.50000/- ?
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CA. Subhash Dangi

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CA. Subhash Dangi (Expert)
01 January 2013 Deduction U/S 80CCG to the extent of Rs. 25000 ie., 50% of Rs.50000/- is allowable.

However this deduction will not be included in Rs. 1 Lakh limit under section 80C, 80CCC and 80CCD.
Therefore the assessee can get separate deduction under section 80CCG apart from Rs.1 lakh U/S 80C.
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CA CS Amit S. Kedia

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CA CS Amit S. Kedia (Expert)
01 January 2013 Agree with the expert..
The limit of Rs.1 lakh as specified in section 80CCE does not include deduction u/s 80CCG
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