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The Rajiv Gandhi Equity Savings Scheme (commonly referred to as RGESS), was a tax saving scheme announced in the 2012-2013 Union Budget of India, [1] aimed at first time retail investors. Named after Rajiv Gandhi , the sixth Prime Minister of India , the scheme was announced by the finance minister, P. Chidambaram , on 21 September 2012. [ 2 ]
It is important to note that any donations received by the political party are entirely exempt from income tax, thereby affording the donor the opportunity to claim income tax exemption for the donated amount. [3] As of 2023, tax evasion is a major concern among approximately 3,000 RUPPs in India. There were around 2,300 such parties in March 2019.
The Public Provident Fund (PPF) is a voluntary savings-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
An Equity Linked Savings Scheme, popularly known as ELSS, is a type of diversified equity scheme which comes, with a lock-in period of three years, offered by mutual funds in India. [1] [2] They offer tax benefits under the Section 80C of Income Tax Act 1961. [3] ELSSes can be invested using both SIP (Systematic Investment Plan) and lump sums ...
For example, U.S. tax law provides that trading in securities for the taxpayer's own account will not constitute a U.S. trade or business. [16] Thus foreign hedge funds formed as corporations do not generally pay corporate income tax. [17] Domestic tax-exempt entities face similar concerns when investing in funds structured as partnerships.
On 10 December 2018, the Government of India made NPS an entirely tax-free instrument in India where the entire corpus escapes tax at maturity; the 40% annuity also became tax-free. [11] Any individual who is a subscriber of NPS can claim tax benefit for Tier-I account under Sec 80 CCD (1) within the overall ceiling of ₹1.5 lakhs under Sec 80 ...
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These include private equity funds and debt funds. [1] [2] Category III: Funds that make short-term investments and then sell, like hedge funds, come under this. [1] AIFs are usually marketed towards high net-worth persons. The minimum investment from one person is ₹10,000,000. The minimum corpus of the funds is ₹200,000,000. At any time ...