Section 80c

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GAURAV VERMA (Querist)
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07 July 2012 Sir,
I have purchase the mutual fund of LIC Numra and I wanna know whether these MF is eligible for deduction u/s 80C and whether interest from these MF will be taxable or not.

CA CS PRASHANT

CA CS PRASHANT (Expert)
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07 July 2012 Yes the same is eligible for deduction u/s 80C...

However the interest from MF will be taxable under income from other source.

GAURAV VERMA

GAURAV VERMA (Querist)
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08 July 2012 sir,
I am agree with the deduction of 80C but as per the provision of Section 10(23D) any income of a MF registered under SEBI is exempt from tax please clarify it

CA CS PRASHANT

CA CS PRASHANT (Expert)
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10 July 2012 Yes you are absolutely right.

Am really sorry for earlier view....

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