Section 80c
This query is : Resolved
GAURAV VERMA
(Querist)
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.
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
(Expert)
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.
However the interest from MF will be taxable under income from other source.
GAURAV VERMA
(Querist)
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
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
(Expert)
10 July 2012
Yes you are absolutely right.
Am really sorry for earlier view....
Am really sorry for earlier view....
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