If I purchase listed equity shares through mutual fund route, shall i be eligible for deduction u/s 80 CCG ? I am a new retail investor ?
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80CCG
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The Section 80CCG (Rajiv Gandhi Equity Savings Scheme) was introduced as a part of the Finance Act, 2012. Currently, under the Section 80CCG, deduction would be allowed for investment made by resident individual on listed equity shares or listed units of an equity oriented fund – subject to certain conditions for an amount equal to amount invested or Rs. 25, 000 (whichever is lower) for three consecutive assessment years.
The Financial bill 2017 proposed that the deduction under Section 80CCG will no longer be allowed from AY 2018-19 for any new investors.
However, an assesse who has claimed deduction under Section 80CCG for the financial year 2016-17 or before and has an unclaimed amount of investment carried forward, then he or she shall be allowed to claim the deduction under this Section till the financial year 2018-19.
More Details :: section-80ccg-rajiv-gandhi-equity-saving-scheme
oh. ok thanks
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