23 March 2019
An individual wants to invest Rs. 1,50,000 under sec. 80(C), in any Mutual Fund Company's ELSS scheme, to reduce his tax liability.
But, Is it compulsory to invest the whole amount of Rs.1,50,000 in any one ELSS scheme only ? I mean, Cannot he divide the total investment amount between 2 or 3 Mutual Fund Companies ?
He does not want to keep all the investment in one ELSS scheme.
So, if he distributes his total investment of Rs. 1,50,000 Into 3 different ELSS schemes of 3 different Mutual Fund companies, (each Rs. 50,000) OR into 2 ELSS schemes of 2 different Mutual Fund companies (each Rs.75,000),
then, will he be eligible for getting the full deduction of Total Amount (Rs.1,50,000), under sec.80 (C) ?
24 March 2019
Saving Schemes (ELSS) Fund is a tax saving mutual fund. ELSS funds qualify for tax exemptions under section (u/s) 80C you can invest upto 150000/- any number of mutual funds
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