Rgess scheme

This scheme is applicable to only "NEW RETAIL INVESTORS" earning upto rs. 10 lakhs per year.

“new retail investor” means the following resident individuals:-

(a) any individual who has not opened a demat account and has not made any transactions in the derivative segment as on the date of notification of the Scheme;

(b) any individual who has opened a demat account before the notification of the Scheme but has not made any transactions in the equity segment or the derivative segment till the date of notification of the Scheme,

and any individual who is not the first account holder of an existing joint demat account shall be deemed to have not opened a demat account for the purposes of this Scheme

It does not include any assessee other than individual

Source: https://www.indiantaxupdates.com/2012/12/05/rajiv-gandhi-equity-saving-scheme-2012/

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Nirmit Choraria

CA Gopal Somani

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