- People stop taking calls if you deliver a flop: Abhishek BachchanChinkara poaching case: Salman thanks fans for prayers, supportAkshay had a ball shooting cameo for 'Dishoom'Iulia Vantur celebrated birthday with Salman KhanICW 2016: Rohit Bal adds Russian touch to India fashionB-Town hails Salman's acquittal in poaching casesKangana turns Mughal empress for at the FDCI India Couture Week 2016Why not: Kangana on getting married more than once'Madaari': A heartbreaking wake-up callVijay Raaz did 'Mission Tiger' for free
Amandeep Drall carded five under 67 in the second round to grab the lead in the 11th leg o
Chidambaram to launch Rajiv Gandhi Equity Scheme Last Updated : 27 Jan 2013 12:08:15 PM IST File photo: Finance Minister P Chidambaram
Aiming to attract first-time stock market investors, Finance Minister P Chidambaram will launch the much-awaited Equity Savings Scheme ' title=' Rajiv Gandhi Equity Savings Scheme '>Rajiv Gandhi Equity Savings Scheme (RGESS) in Mumbai on February 9.
"He (Chidambaram) is going to Mumbai next month and will formally launch the Rajiv Gandhi Equity Scheme there," sources told media.
The RGESS, which was announced in the Budget for 2012-13, seeks to provide tax benefits to first-time investors in stock markets.
Under the scheme, an individual with an income of less than Rs 10 lakh would get tax incentives for investing up to Rs 50,000 in the stock market.
As per the notification issued by the Securities and Exchange Board of India (Sebi) on the RGESS, there would be a lock-in period of one year on investments made under the scheme.
For transactions undertaken by investors through their RGESS designated demat account, depositories would be required to seek necessary transactional details from stock exchanges for enforcing lock-in.
The mutual fund houses have already started lining up mutual fund schemes focused on the RGESS. Two state-owned fund houses SBI and IDBI and one private fund house DSP Blackrock have filed draft offer documents for such schemes with the market regulator Sebi, while others may soon follow suit.
The scheme was notified by the Department of Revenue, Finance Ministry on November 23 last year.Source: IANS, Other Agencies, Staff Reporters
For Latest Updates Please-
Join us on
Follow us on
Post Your Comment (0 posted):
Pakistani actress Mahira Khan, who is gearing up for her Bollywood debut with superstar Sh
- I'll be expected to deliver bigger film after 'Sultan': Director
- 'Jagga Jasoos' is a much-awaited film for me: Ranbir Kapoor
- 'The BFG' has critical digital effects: Steven Spielberg
- Combination of hard work, luck helped in industry, says Raftaar
- Ten unknown facts about Huma Qureshi
- Sidharth, Katrina's 'Kala Chashma' a hit on YouTube
- Poonam Pandey all set with her new video for her fans
- Signed 'Hera Pheri' 3 last year, still clueless when it'll begin: Ankita Shorey
An international team of scientists has identified a rare new species of beaked whale that
Route Mobile Limited, a messaging and voice API company, on Thursday announced it has acqu