Birla Sun Life Mutual Fund issues New Fund offer named Birla Sun Life Rajiv Gandhi Equity Savings Scheme- Series 1 which is eligible for tax benefit under s section 80CCG under Rajiv Gandhi Equity Savings Scheme.
Investment objective:- The Scheme is to generate capital increase, from a portfolio that is substantially constituted of equity securities specified as eligible securities, (RGESS) Rajiv Gandhi Equity Savings Scheme 2012.
Type and Date of Launching:-This is a close ended equity savings scheme. The scheme has already been launched on 25th February, 2013 and the new fund offer will be closed on 20March 2013.
Entry Load & Exit Load:- There is no entry load for the scheme. The scheme could not be redeemed, switch over or repurchase before the specified period. But one can redeem it through any stock exchange in listed price.
Face Value:- The purchase price of one unit of the NFO period is Rs. 10 and the minimum investment limit is Rs. 5000 and the multiples of Rs. 10 thereafter.
Lock in period: - The Scheme has three year lock in period.
Tax benefit under Rajiv Gandhi Equity Saving Scheme:- The tax benefit under RGESS is available only to those who are resident Indian investor and do not have a de-mat account. He or she should not have any trading in the derivative field till the date of opening RGESS. Those who have already opened a de-mat account must not have done any trading before taking this Scheme and their income must not exceed Rs. 10 Lakh in the year. Read more about Rajiv Gandhi Equity Savings Scheme. This 80CCG benefit is additional benefit apart from the tax exemption benefit under Section 80C.
How to Buy:- Those who wish to buy the Birla Sun Life Rajiv Gandhi Equity Savings Scheme - Series 1, click here to know more.