Hi
The scheme would allow for income tax deduction of 50% to new retail investors who invest up to 50,000 directly in equities and whose annual income is below 10 lakh. The scheme will have a lock-in period of three years."
Where should we claim this deducation (apart from 100 K deucation or not ?)
Thanks
Srinivas
It will allow deduction U/S 80C (Aggregrate amount of 80C, 80CCC & 80CCD maximum of Rs. 1 Lac)
This part is still unclear because the above scheme, viz, Rajiv Gandhi Equity saving scheme is only a Proposal so far and once its implemented, it will be clarified, and probably it will be allowed in addition to 80C.
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