Mutual fund 80c
This query is : Resolved
ABDUL VAJEED
(Querist)
12 October 2011
Hi All
Will any investment in mutual fund can be claimed u/s 80 c or there is any condition?
My freind invests every month Rs 2000/- in bajaj mutual fund , its eqiuty based , so can i claim 24000/- as 80 C ?
Will any investment in mutual fund can be claimed u/s 80 c or there is any condition?
My freind invests every month Rs 2000/- in bajaj mutual fund , its eqiuty based , so can i claim 24000/- as 80 C ?
13 October 2011
Sec 80C:
Deductions are only available for specfic kind of mutual fund, ie ELSS (Equity Linked Saving Scheme). Such units are issued under three scheme ELSS- 1992; ELSS- 1992 as modified in 1998 and ELSS- 2005.
Only ELSS scheme mentioned above are eligible for getting deductions under Sec 80C.
These are also known as tax saving mutual funds.
Deductions are only available for specfic kind of mutual fund, ie ELSS (Equity Linked Saving Scheme). Such units are issued under three scheme ELSS- 1992; ELSS- 1992 as modified in 1998 and ELSS- 2005.
Only ELSS scheme mentioned above are eligible for getting deductions under Sec 80C.
These are also known as tax saving mutual funds.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- Closer of business and itc of capital goods
- Appointment of Auditor By Form ADT-1
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
