LIC Nomura RGESS NFO
LIC Nomura RGESS NFO: LIC Nomura Mutual fund got approval to launch NFO with eligible securities under RGESS (Rajiv Gandhi Equity Savings Scheme) which allows new retail investors to avail tax benefits under Section 80CCG of Income Tax Act 1961. New Retail Investors can avail upto 50% of investment amount in RGESS subject to a maximum investment amount of 50,000 Rupess. The total income of the new retail investor should be below 10 Lacks in Previous Year.
LIC Nomura RGESS NFO opens on 09 Feb 2013 and closes on 25 Feb 2013.
Application forms can be submitted at any of the LIC Nomura Area offices or Karvy Investor Service Centers (Details of the centers are available at the end of LIC Nomura RGESS NFO KIM and Application Form which you can download from the above links.
Please check whether you are eligible to apply under the scheme to avail tax benefits under 80CCG of income tax. If you are a new retail investor (Not invested in any shares before including derivatives) you can avail the benefits of tax exemption. You can avail the benefits though you were having demat but never traded shares/derivatives. If you are a joint holder of any demat account (not first holder), then you can open a new demat account as first account holder to avail the benefits. Please contact your financial advisor to check whether you are eligible for tax exemption under RGESS.
Mutual Funds investments are subject to market risks. Please read Scheme Information Document and Key Information Memorandum before investing.