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SECTION 80C

This query is : Resolved 
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(Querist)
08 July 2007 Kindly let me know whether re investment of divident received from Mutual fund is eligible for deduction under section 80C
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Vasantha Kumar Reddy

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Vasantha Kumar Reddy (Expert)
09 July 2007 Income(dividend) received from the Mutual fund specified under clause 23D of Section 10 is exempted under section 10(35).

Reinvestment of dividend received from mutual fund is eligible for deduction U/s 80C.

In the view of the above provisions you can avail the deduction u/s 80C
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Paras Chhajed

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Paras Chhajed (Expert)
10 July 2007 First of all to qualify for deduction u/s 80 C the investment nust be made out of taxable income not necessarily of the relevant year but it has to be out of taxable income and therefore, in my opinion, the re-investment of dividend which is an exempt income does not qualify for deductio u/s 80 C.

CA Paras Chhajed
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Shashi Mohan Jha

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Shashi Mohan Jha (Expert)
11 July 2007 As in case of NSC interest earned is eligible, on same lines mutual funds dividend would also be eligible for deduction.
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CA Mani

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CA Mani (Expert)
02 August 2007 Yes, It is eligible
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
26 July 2012 eligible under 80C . so it should be thaers
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