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Rgess scheme

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CA Final
1333 Points Joined August 2009

hey the new RGESS Scheme is only for Individuals or for HUF also..??

If yes pls give a refrence also.

 

 

 

Thanks in advance

Urgent Query 

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On 04 January 2013 at 12:55 Report
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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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On 04 January 2013 at 15:59
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Associate Consultant at Infosys Ltd.
464 Points Joined June 2010

Hi,

Yes, only individual assessee is eligible for exemption.Below specified link provides a good clarification of RGESS.

https://www.cdslindia.com/faq/FAQ_RGESS.pdf

 

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On 08 January 2013 at 11:42

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