Going to invest before 31st March - RAJIV GANDHI EQUITY SAVINGS SCHEME is good option

MAIN PROVISIONS OF RAJIV GANDHI EQUITY SAVINGS
SCHEME
 Finance Minister Mr. P Chidambaram has launched an
equity scheme called Rajiv Gandhi Equity Savings Scheme, or RGESS,
is an attempt to lure new investors to the stock market.
The main provisions of this scheme are as under:
1. The gross total income should be less than or equal to Rs. 10 lakhs.
2. Person has never invested in equities before through a Demat
account or in derivatives, then only he is eligible to invest in RGESS. It
means tax benefits are available to first-time investors in stock
market.
3. Any individual can invest up to Rs. 50000 in RGESS and can claim
the Deduction U/S 80CCG of 50% of investment amount.
4. There would be a lock-in period of three years, but Govt. has
allowed some flexibility to exit after a year of investment.
5. To be able to invest in RGESS, one need to open a Demat Account
and submit Form A, which is a declaration that an individual has never
invested in equities.
6. Individual can either buy shares of companies that are part of the
BSE 100 or National Stock Exchange (NSE) CNX 100 through a stock
broker or on your own. Or you can buy RGESS MF schemes.
7. Individual can buy Exchange Traded Funds or ETFs that are available
on the BSE or the NSE that track either the Sensex or Nifty indices.

If one has any problem regarding above or want any consultancy on above issue please feel free to contact me between 4.00PM to 6.00PM on working days