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80C

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(Querist)
21 February 2011 I want to know whether investment in mutual fund is exempt u/s 80C or the interest on MF.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
21 February 2011 Investment in Mutual fund under Tax saver Scheme is allowable u/s 80C of the IT Act
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
21 February 2011 Investments in mutual funds covered under Equity Linked Savings Scheme,2005 only qualifies for deduction under section 80C of the IT Act,1961.
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