Rajiv Gandhi Equity saving skim & Home loan Intrest

POSTED BY sushilkumar ramchand bhandari ON December 16, 2012 9:23 am COMMENTS (2)

Dear Sir,

1. Before 10-12 yrs, I was trading in shares. But today I had not working in that field. Can I take benefit of rajiv gandhi equity skim. Because in that guidelines they had mentioned- new investor .

In rajiv gandhi equity saving skim when shares rate will be down, that investor will lose his money. Please suggest perfect mutual fund or any other option of shares for this skim. Investor will try to reduce his tax burden with safe side.

2. For home loan Rs.150000 is last limit for intrest. If I take home loan & my home I will give on rent, can I get intrest deduction more than 150000 which I will pay in actual.

3. I had seen many peoples are making family trust. Can we save incometax after creating family trust? (While doing charity we can save our money)

Please guide me on above points.



2 replies on this article “Rajiv Gandhi Equity saving skim & Home loan Intrest”

  1. Dear Sushilkumar, Yes for a house given on rent, the limit of 1.5l Rs. is not there & full interest is available for tax benefit.

    Regarding family trust, are you asking for HUF? Please clarify.



  2. I can answer part one of your question:

    guidlines from Sebi can be found here

    Acc to this the scheme comes into effect from the date of notification: Nov. 23 2012

    “new retail investor” means the following resident individuals:-
    (a) any individual who has not opened a demat account and has not made any transactions in the derivative segment as on the date of notification of the Scheme;
    (b) any individual who has opened a demat account before the notification of the Scheme but has not made any transactions in the equity segment or the derivative segment till the date of notification of the Scheme,
    and any individual who is not the first account holder of an existing joint demat account shall be deemed to have not opened a demat account for the purposes of this Scheme

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