Income tax: More clarity on deductions available under RGESS

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The government has issued a fresh notification on tax exemption under the RGESS under Section 80CCG of the Income-Tax Act, 1961. The government has issued a fresh notification on tax exemption under the RGESS under Section 80CCG of the Income-Tax Act, 1961.
SummaryThe government has issued a fresh notification on tax exemption under the Rajiv Gandhi Equity Savings Scheme.

describe a new retail investor as one who has not opened a demat account and hasn’t made any transactions in the derivative segment before the date of opening of the demat account. Also, one who has opened a demat account, but has not made any transactions, qualifies as a new retail investor.

While making the initial investment of up to Rs 50,000, the total cost of acquisition of the securities will not include brokerage charges, securities transaction tax, stamp duty and service tax.

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