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of <h1>Rajiv Gandhi Equity Scheme: Tax Breaks for New Retail Investors with Income Under 10 Lakh; Lock-In Period Applies.</h1> The Rajiv Gandhi Equity Savings Scheme, 2012, established under section 80CCG of the Income-tax Act, 1961, aims to encourage small investors to invest in the domestic capital market by offering tax deductions. Eligible investments include specific equity shares, public sector enterprises, and certain mutual funds and ETFs. The scheme is targeted at new retail investors with a gross income not exceeding ten lakh rupees. Investments must be held for a fixed lock-in period of one year, followed by a flexible lock-in period of two years. Non-compliance with the scheme's conditions results in the withdrawal of tax benefits.
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