Mutual funds sport 'Rajiv Gandhi Equity Savings Scheme' tag to tap tax-saving season flows
The deduction will be available only from the total income of the assessment year relevant to the previous year in which the investment in eligible schemes is made.
As per RGESS, an investor who has claimed the benefit in any assessment year under any RGESS scheme cannot claim this benefit again under that or any other RGESS scheme in any other assessment year.
Government has said RGESS will not only encourage the flow of savings and improve the depth of domestic capital markets, but also aim to promote an 'equity culture' in India.
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