Can I unblock shares that have been blocked by DP under RGESS?

General
2

Micro, 

Check this link on NSDL for any query on RGESS. 

If you are falling under RGESS the first Rs 50,000 invested every year would be blocked by the DP, as you enjoy the benefit of tax deduction under section 80CG. 

To unblock this you will need to first get a  Form B from your DP(Depository participant, the firm with which you have opened the demat account), fill it and resubmit for the shares to be unblocked. 

1 Like
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I submitted the form A thinking, I would be give option each time to block these share either as rgess or non-rgess one, because that is a logical process and also because zerodha/ISSL customer care were never able to explain it properly. Always they used to give me the reference to official regess document which is 38 pg complex document.
But as it turns out its automated process (nowhere written in 300 pg documetn) from the depository side where it si blocked immediately excepted only if you submit Form B by post. And thats where the whole process is so pain in the ass for trader like me.
So each time I buy a share on delievery I’d have to cross-check whether it is in eligible securities or not. For eligible security I have to make sure that I submit this Form B by post(cmon, Who wants to do that almost once a week’)
Wish the process implied a manual check before blocking or system facilitating online submission of FormB
zerodha customer care people are also not aware of this plan. They “realized” that much later how my shares were getting unblocked without my consent. I had to bear the loss of this unsufficient information on part of zerodha/issl.
I want to immediately change my depository(broker may be) who have better process than this. But can’t because I again don’t have information to unblock my shares in rgess or shift when under the purview of RGESS.
Anyone listenning??

4

Can you send an email to [email protected] and also [email protected] with your client ID

5

I already have but he(zerodha or issl team) isn’t been able to provide me a solution for my catch-22 solution.
Opening a new demat is not a solution when my cost is going to go double of maintaining.

6

Can you email me your client ID, [email protected]

7

already did.
@Nithin - Do you have any way-out for me?
ISSL team has horrible customer care. May be intervention from top could solve this for me.
Just got to know that they again blocked my shares for this year too. :frowning:

8

@nithin
This is still not solved.
Never expected such a sluggish response by your support team even after CEO’s intervention.