mutual funds savings
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 March 2010
Kindly clarify the following
1) Under what type of mutual funds Can we save 1 lakh under sec 80c. Which Govt. bank (20 nationalised bank) mutual fund has given more benefit or private co. has given more benefit.
2) If deposited 1 lakh under 5 years FD in Govt. Banks, then should accrued interest be taken every year as income or should it be taken when the FD matures. Kindly clarify urgently
1) Under what type of mutual funds Can we save 1 lakh under sec 80c. Which Govt. bank (20 nationalised bank) mutual fund has given more benefit or private co. has given more benefit.
2) If deposited 1 lakh under 5 years FD in Govt. Banks, then should accrued interest be taken every year as income or should it be taken when the FD matures. Kindly clarify urgently
06 March 2010
Investment in three year Tax Saver Mutual Fund (which are also known as ELSS) is eligible for 80C. www.moneycontrol.com provides ranking of mutual funds. You may refer the site for your own analysis of where to invest.
The accrued interest in the FD should be considered every year instead of considering the interest at the end of the tenure.
The accrued interest in the FD should be considered every year instead of considering the interest at the end of the tenure.
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