We have made investment of Rs 1,00,000/- in Rajiv Gandhi equity shares under notified scheme, how much deduction can we claim?

Posted 1 year, 7 months ago by Ankit Sharma


Rs 11,50,000

Posted 1 year, 7 months ago by Ankit Sharma


What is your Gross total income?

Posted 1 year, 7 months ago by Ankit Sharma


As per section 80CCG retail investor are eliigible for deduction if their Gross total income does not exceed Rs 12,00,000/- As your GTI is not exceeding Rs 12,00,000/- you are eligible for deduction.

Deduction under section 80CCG is Rs 25,000/- or 50% of investment made whichever is less.

So, to claim maximum benefit you should have invested only upto Rs 50,000/-

An assessee can avail benefit of this section only for 3 consecutive assessment year from the assessment year in which initial investment is made,  provided he makes investment in each assessment year separately.

Posted 1 year, 7 months ago by Ankit Sharma


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