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tax exemption query

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2010 i haveRs.50000 in PPF A/C and 20000 in LIC.where i should invest to get tax exemption?
is investing in mutual funds is eligible for tax exemption?
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CMA. Subhash Kumar Jha

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CMA. Subhash Kumar Jha (Expert)
30 December 2010 yes... in ELSS schemes (Equity Linked Savings Scheme)
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Nirpendra Singh

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Nirpendra Singh (Expert)
30 December 2010 Yes
you can avail the benefit of Tax exemption u/s 80c upto Rs 110000
( sub to Rs 10000 should be invested in Infrastructure Fund).
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