Section 80ccg

My Gross income is 10.50lakhs and my taxable income is 7.15 lakhs.  Though the PIB Govt. of India 's publication that Finance Minsistry approves RGES for retail  investors  and point b of the circular " Those investors whose annual taxable income is less than < 10 lakhs ar eligibel under the scheme", If i subscribe to RGES for Rs.50,000/- will i get the 50% rebate i.e. Rs.25,000/- as because my Finance Officer refuses to accept this and asking me to get it refunded from IT authorities directly.  Whether can I invest in the first place(am I eligible or not ) and can my officer is entitled to refuse or disallow the claim?.  Your valuable advice/suggestion is solicited. 

Replies (1)

you are not eligible for the scheme.. The scheme is for assessee having GTI less than 10L and not Taxable income after deductions under chapter VI - A..

 

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