Question

Under Section 80CCG of the IT Act, what is the maximum deduction available for investments made under the Rajiv Gandhi Equity Savings Scheme (RGESS)?

a.

30% of the invested amount

b.

40% of the invested amount

c.

50% of the invested amount

d.

60% of the invested amount

Answer: (c).50% of the invested amount Explanation:Under Section 80CCG of the IT Act, investors in the Rajiv Gandhi Equity Savings Scheme (RGESS) are eligible for a 50% deduction of the invested amount, up to a maximum investment of Rs. 50,000.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Under Section 80CCG of the IT Act, what is the maximum deduction available for investments made under the Rajiv Gandhi Equity Savings Scheme (RGESS)?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What are the conditions that need to be satisfied for an individual to be eligible for deductions under the Rajiv Gandhi Equity Savings Scheme (RGESS)?

Q. What is the period of lock-in for investments made under the Rajiv Gandhi Equity Savings Scheme (RGESS)?

Q. For which Mutual Fund product do investors in higher tax brackets prefer longer-tenure plans for double-indexation benefits and better interest rates?

Q. What is the definition of AIF (Alternative Investment Fund)?

Q. What are the objectives of SEBI (Alternative Investment Funds) Regulations, 2012 (AIF Regulations)?

Q. Which of the following is specifically excluded from the purview of the AIF Regulations?

Q. What is the primary investment focus of Infrastructure Funds?

Q. What type of funds are invested primarily in unlisted securities of start-ups, emerging, or early-stage venture capital undertakings?

Q. What is the primary focus of Category I - AIF?

Q. What type of funds fall under Category II - AIF?

Q. What characterizes Category III - AIF funds?

Q. What is the purpose of SEBI (AIFs) Regulations, 2012?

Q. What is the status of existing VCFs under the AIF Regulations?

Q. How long can existing funds, falling within the definition of AIF, continue to operate without SEBI registration after the commencement of the AIF Regulations?

Q. What is the condition regarding the launch of multiple schemes under an AIF according to the AIF Regulations?

Q. What is the minimum corpus required for each scheme of an AIF according to the AIF Regulations?

Q. What is the minimum investment value that the AIF shall not accept from an investor, as per the AIF Regulations?

Q. What is the maximum number of investors allowed for any scheme of an AIF, according to the AIF Regulations?

Q. What is the minimum fund investment required in an AIF, as per the AIF Regulations?

Q. What is the minimum investment required by each investor in an AIF?

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!