RGESS Lock In Period

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The eligible securities brought into the demat account will be automatically locked-in from the date of investment till one year from the date of last purchase of RGESS eligible securities. This period is called ‘Fixed Lock-in’ during which you cannot pledge or sell these securities.

§  Holding Period = 3 Years

§  Fixed lock-in Period = 1 Year from the date of credit

§  Flexible lock-in Period = 2 Years from the end of Fixed lock in period

During subsequent two years called as Flexible Lock-in, you can sell and buy RGESS securities. However, you will have to maintain the value of RGESS investment for cumulative period of 270 days during each of these two years.

Example:

Let us say, you have purchased eligible securities worth Rs. 50,000 in a RGESS designated demat account on December 31, 2012. The eligible securities will be in ‘Fixed lock-in’ till December 30, 2013 and for flexible lock-in till December 30, 2015.

In case you do not wish to claim tax deduction on a security, then a declaration in the prescribed format (Form B) should be submitted within one month from the date of credit to the DP.

Your demat account that was designated for RGESS will be converted into a regular or ordinary demat account at the end of the flexible lock-in period.

Illustration of RGESS lock-in period if investments are brought in at once.

 

 

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