Deduction u\s 80C
This query is : Resolved
25 June 2008
Sir will the amount of dividend reinvested in mutual funds, say SBI TAXGAIN Div. reinvested plan, qualify for deduction u\s 80C?
Further will the PPF interest be allowed u\s 80C on the same footings?
The above doubt is created as there is no requirement of depositing the amount out of the taxable income for claiming deduction u\s 80C.
Further will the PPF interest be allowed u\s 80C on the same footings?
The above doubt is created as there is no requirement of depositing the amount out of the taxable income for claiming deduction u\s 80C.
26 June 2008
Hi Sachin,
The dividend income had been received should have been income which is now reinvested and new units purchased at teh existing NAv. Therefore, in my opinion this very well comes under 80C.
However, the PPF interest is not reinvesting , hence is treated as income when received
The dividend income had been received should have been income which is now reinvested and new units purchased at teh existing NAv. Therefore, in my opinion this very well comes under 80C.
However, the PPF interest is not reinvesting , hence is treated as income when received
16 June 2023
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