Friends
Is there any clarity about the process to identify if an investor is a 'first time investor' for claiming deduction under section 80CCG -- RGEES introduced from this year.
Suppose a person has a demat account but he has not made any transaction in equity market. So if he invests now, is he eligible for deduction or not.
Regards,
as per my view
it must be first time demat account on that PAN.
if there is old demat account, then he will not be counted in first time investor
Dear Dipjyoti,
It has been clarified by notification that even if a person has already a demat a/c but not yet traded ever in stocks or F&O then you can avail the benefit of Sec 80CCG
for more info read here in detail https://adf.ly/PKFv6
O P Bagla & Co LLP
New Delhi
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