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Glossary
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Glossary

  1. Act - The Income-tax Act, 1961 (43 of 1961)

  2. Demat account - An account opened with the depository participant in accordance with the guidelines laid down by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992)

  3. Depository - a company as defined in clause (e) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996)

  4. Depository participant - a participant as defined in clause (g) of sub-section (1) of section 2 of the Depositories Act, 1996 (22 of 1996)

  5. Eligible securities - any of the following

    • Equity shares, on the day of purchase, falling in the list of equity declared as "BSE-100" or " CNX-100" by the Bombay Stock Exchange and the National Stock Exchange, as the case may be
    • Equity shares of public sector enterprises which are categorised as Maharatna, Navratna or Miniratna by the Central Government
    • Units of Exchange Traded Funds (ETFs) or Mutual Fund (MF) schemes with Rajiv Gandhi Equity Savings Scheme (RGESS) eligible securities as underlying, as mentioned in sub-clause (i) or sub-clause (ii) above, provided they are listed and traded on a stock exchange and settled through a depository mechanism
    • Follow on Public Offer of sub-clauses (i) and (ii) above
    • New Fund Offers (NFOs) of sub-clause (iii) above
    • Initial Public Offer of a public sector undertaking wherein the government shareholding is at least fifty-one per cent. which is scheduled for getting listed in the relevant previous year and whose annual turnover is not less than four thousand crore rupees during each of the preceding three years

  6. Financial year - means a year commencing on the 1st day of April and ending on the 31st day of March

  7. Form - Form appended to the Scheme

  8. Investment - investment by an assessee in any of the eligible securities in accordance with the Scheme

  9. New retail investor - Following resident individuals:

    • 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
    • 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 will be deemed to have not opened a demat account for the purposes of this Scheme

  10. Scheme - The Rajiv Gandhi Equity Savings Scheme;