28 June 2016
Dear All, From Last month I Have started 2 SIP's one is DSP Black rock Micro Cap Fund Regular Plan & Another One is ICICI Prudential Value discovery Fund Growth, Can I Take the Income tax exemptions for both of this Monthly SIP's
28 June 2016
Hi Ajinkya, Basically there are variety of mutual funds, among them is the tax saving mutual funds, as the name suggests, this scheme offers tax benefits to its investors. The funds are invested in equities thereby offering long-term growth opportunities. Tax saving mutual funds (called Equity Linked Savings Schemes) has a 3-year lock-in period. I think so that the above mutual fund although a very good performer(DSP Black Rock) but it does not come under tax saving. Please you can gain this information from the source where you have open your account
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