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 ?
K Srinivas, CMA CS
(Expert)
23 March 2019
No, there are no restrictions whatsoever in investing lumpsum or distributed investments
KAVIRAJA ADDANGADI
(Expert)
24 March 2019
No restrictions, maximum you can claim Rs.150000/- under 80c
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