Deduction u/s 80C in respect on investment in mutual fund

This query is : Resolved 
 

(Querist)
09 July 2008

What is the creteria and how do anyone come to know whether any investment in a mutual fund is allowed as deduction u/s 80C??
Where do I get a list of mutual funds which are allowed as deduction u/s 80C (if any)??


Yatesh Prakash Renuke (Expert)
10 July 2008

Tax saver mutual funds are eligible for deduction u/s 80 C. For these mutual funds lock-in period is 3 Years. You can't withdraw or mature your MF within 3 Years.

Yatesh

CA Rajesh S (Expert)
10 July 2008

Tax saving mutual funds are usually known as Mutual Funds Under ELSS i.e Equity Linked Saving Schemes.



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