Suppose if i invest in Mutual Fund - Dividend Reinvest plan to save Tax, can i claim as investment the dividend declared by MF and reinvested.
1 Replies
Sahil
(CA FINAL)
(182 Points)
Replied 09 November 2009
YES U CAN CLAIM DEDUCTION U/S 80C.
AS SUCH U CAN INVEST IN SECURITIES QUOTED IN SEC 80C EVEN THROUGH INCOME NOT CHARGEABLE TO TAX.
IT MEANS SOURCING OF INCOME INVESTED IN 80C CAN BE EXEMPT INCOME.
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