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Regarding rajiv gandhi equity saving scheme

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 November 2012 I have query for RGESS, particularly this clause "Scheme is open to new retail investors, identified on the basis of their PAN numbers. This includes those who have opened the Demat account but have not made any transaction in equity and /or in derivatives till the date of notification of this Scheme"

I have opened a Demat account by Dec 2010, and purchased Long term IDFC Infra bond(80CCF) on Jan 2011.

Also before opening Demat account, I have purchased tax saver mutual fund's(Not through Demat) between 2007-2010.

I want to know whether I am eligible to get benefit under this scheme if purchase Equity share's with the existing Demat account.

Appreciate for any early response.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
02 December 2012 It can easily be said that you have not made any transaction in equity or derivatives.
.
IDFC infra Bond is covered under the definition of a Bond which is different from a derivative.
.
In my view, you are eligible to take advantage of the scheme.
.
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