Investment u/s 80(c) in combination of elss, ppf, fd
This query is : Resolved
23 March 2019
SIR/MADAM,
An individual wants to invest Rs. 1,50,000 u/s 80 (C), for availing tax exemption.
But, he does not want to invest the whole amount in one place.
So, Can he invest as follows ?
- RS. 50,000 in any one ELSS scheme of any mutual fund,
- Rs. 50,000 in any other ELSS scheme of any other Mutual Fund,
- And Rs. 50,000 in PPF account in any bank ?
OR,
Can he distribute Rs. 1,50,000 in three parts like –
- Rs.50,000 in ELSS , Rs. 50,000 in PPF and Rs. 50,000 in 5 Years’ bank F.D,
for availing sec. 80(C) exemption ?
I mean,
is there any restriction or not, that one can invest whole amt. in any one type of tax-saving instrument from above ?
An individual wants to invest Rs. 1,50,000 u/s 80 (C), for availing tax exemption.
But, he does not want to invest the whole amount in one place.
So, Can he invest as follows ?
- RS. 50,000 in any one ELSS scheme of any mutual fund,
- Rs. 50,000 in any other ELSS scheme of any other Mutual Fund,
- And Rs. 50,000 in PPF account in any bank ?
OR,
Can he distribute Rs. 1,50,000 in three parts like –
- Rs.50,000 in ELSS , Rs. 50,000 in PPF and Rs. 50,000 in 5 Years’ bank F.D,
for availing sec. 80(C) exemption ?
I mean,
is there any restriction or not, that one can invest whole amt. in any one type of tax-saving instrument from above ?
23 March 2019
No, there are no restrictions whatsoever in investing lumpsum or distributed investments
24 March 2019
No restrictions, maximum you can claim Rs.150000/- under 80c
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