banner_ad

MUTUAL FUND PAYMENT DEDUCITBLE ??

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 July 2010
MR. A INVESTED RS.25000 IN MUTUAL FUND

MUTUAL FUND > LIABLE TO STT
> MORE THAN 45% EQUITY
> DEDUCTIBLE 10(38)LONG TERM

IS RS.25000 DEDUCTIBLE UNDER 80 C ??
Profile Image

Nirpendra Singh

Profile Image

Nirpendra Singh (Expert)
21 July 2010 No ,
As per section 10(38) its required to be a euity oriented mutual fund (means where entity invest 65% of its receipts in Equity ).
Here the total investment is restricted to 45% only .
therefore irrespective of STT payment transaction is chargeable to tax(LTCG).

Yes here deduction u/s 80C is available.
Profile Image

AMIT

Profile Image

AMIT (Querist)
22 July 2010 THANKS VERY MUCH SIRS,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details