The new fund offer (NFO) opened for subscription on February 9, 2013 and closes on February 25, 2013.
LIC Nomura Mutual Fund launched its close ended Rajiv Gandhi Equity Saving Scheme (RGESS) on February 9.
The New Fund Offer (NFO) will open for subscription on February 9, 2013 and close on February 25, 2013.
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 scheme will encourage flow of saving in financial instruments and improve the participation in domestic capital market and will also provide tax rebate to the investors,” Nilesh Sathe, Director & Chief Executive Officer, LIC Nomura MF.
The benchmark index for the fund is BSE 100 Index.
