LIC Nomura MF receives approval for Rajiv Gandhi Equity Savings Scheme
LIC Nomura Mutual Fund has obtained approval from Sebi to
launch the Rajiv Gandhi Equity Savings Scheme (RGESS).Speaking on the
development, Mr. Nilesh Sathe, Director & Chief Executive Officer, LIC
Nomura MF said “We are launching the Rajiv Gandhi Equity Savings Scheme (RGESS)
on February 11th and will be open till February 25th 2013.”....
The RGESS, which was announced in the Budget for 2012-13, seeks to provide tax benefits to
first-time investors in stock markets.
Under the scheme, an
individual with an income of up to Rs 10 lakhs would get tax incentives for
investing up to Rs 50,000 under Section 80CCG of IT Act, 1961
LIC Nomura MF Interval Fund - Quarterly Plan - Series I announces
dividend
LIC Nomura Mutual Fund has announced 04 February 2013 as the
record date for declaration of dividend
under LIC Nomura MF Interval Fund - Quarterly Plan - Series I Dividend Option.
The dividend rate is the entire distributable surplus as on record date on
the face value of Rs 10 per unit.
LIC Nomura Mutual
Fund today launched its Rajiv Gandhi Equity Saving Scheme (RGESS) Series 1, a
close ended equity tax advantage savings scheme for equity investors in India.
The scheme offers tax benefits under Section 80 CCG, over and above
the tax rebate offered under Section 80 C of the IT Act, 1961.Under the scheme,
an individual with an income of up to Rs 10 lakhs would get tax incentives for investing
up to Rs 50,000.
The New Fund Offer
(NFO) will open for subscription on February 9, 2013 and close on February 25,
2013. The units will be available at par (Rs.10/-) during the NFO and at NAV
related prices thereafter. The scheme will not be open for subscription on an ongoing
basis.
The investment objective
of the scheme is to generate opportunities for growth while providing income
tax benefits under section 80CCG of the Income Tax Act 1961 by active
management of portfolio investing predominantly in RGESS eligible equity and
equity related instruments.
The benchmark index
for the fund is BSE 100 Index.
finally you want to invest in this scheme read carefully and completely …
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