Question

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)?

a.

The individual must have a gross total income exceeding Rs. 10 lacs

b.

The individual must be a non-resident

c.

The individual must be a new retail investor as specified in the notified scheme

d.

The individual's investment is not required to be locked-in

Answer: (c).The individual must be a new retail investor as specified in the notified scheme Explanation:There are some conditions for eligibility for deductions under RGESS, including being a new retail investor as specified in the notified scheme.

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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)?

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