80 c deductions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 July 2011
Can open ended mutual funds like reliance growth fund,religare contra fund ,Franklin templeton blue chip fund can be claimed as deduction under section 80 C as i have invested for Rs 500 each in this scheme through SIP.. for 5 years
31 July 2011
Yes they can be claimed as exemption is available for investment in Mutual Funds.
Message likes :
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31 July 2011
Deduction under section 80C (2)(xiii) is allowed for investments in mutual funds either coverd by notification referred in section 10(23D) or those covered under 'equity linked savings scheme,2005'. An investor has to specifically look into the above condition's otherwise tax benefits may loose. I am not sure about the tax benefits of the schme's referred in the query.
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