Rajiv (CA IN PRACTICE) (66 Points)
02 April 2013There are lots of differences in opinion on deduction u/s 80 C through Investment in MUTUAL FUND with respect to Debt and Equity Fund.
As I understand All mutual fund are eligible for deduction u/s 80C. Further when it comes to aspect of transfer or sale of MF then it is considered whether it is debt fund or equity fund as LTCG on equity oriented mutual fund is exempt and rest are taxable.
Please suggest whether my view is correct?
Rajiv
(CA IN PRACTICE)
(66 Points)
Replied 15 April 2013
80 views but 0 replies ??
No one interested to reply or.......
CA Hardik Vyas
(Practicing Chartered Accountant)
(130 Points)
Replied 18 April 2013
No, Not All, But Specified MFs only are eligible for 80C.
For Capital Gain Calculation, Criteria of Short Term / Long Term is to be analysed, not Debt / Equity.
CAclubindia
