Tax Changes FY 2013-14: Investment in Rajiv Gandhi Equity Saving Scheme

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To encourage the investment from small investors in the domestic capital market, year 2012 saw the introduction of a new section. This section of 80CCG offered tax benefit to new retail investors whose gross total income was less than or equal to Rs. 10 lakh and who wished to invest up to Rs. 50,000 in eligible securities. Under the amendment, new retail investors with a gross total income of Rs. 12 Lakh or below are eligible to make an investment in the said scheme. It also allows deduction for 3 consecutive assessment years beginning with the assessment year in which listed equity shares or listed units are first acquired by the taxpayer.
Other tax changes that are applicable for the current financial year 2013-14:

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