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Investment under RGESS under section 80CCG

Investment under RGESS under section 80CCG

Deduction under section 80CCG or Rajiv Gandhi Equity Savings Scheme was introduced effective assessment year 2013-14. The main purpose behind this deduction was to increase retail investor participation in equity markets. Upon satisfaction of certain conditions the deduction allowed is lower of 50% of amount invested in equity shares or Rs 25,000. This deduction is not available to NRIs.

Deduction for the differently-abled under section 80DD

Deduction under this section is allowed for maintenance including medical treatment of a handicapped dependent (a person with a disability as defined for this section) is not available to NRIs.

Some Investments under Section 80C:

  • Investment in PPF are not allowed.
    (NRIs are not allowed to open new PPF accounts, however PPF accounts which are opened while they are a Resident are allowed to be maintained.)
  • Investments in NSCs
  • Post Office 5 Year Deposit Scheme
  • Senior Citizen Savings Scheme.

Deduction for the differently-abled under section 80DDB

Deduction under this section towards medical treatment for a dependant who is disabled (as certified by a prescribed specialist) is available only to Residents.

Deduction for the differently-abled under section 80U

Deduction for disability where the tax payer himself suffers from disability as defined in the section is allowed only to Resident Indians.

Investment under RGESS under section 80CCG

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