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U/S 80-C

This query is : Resolved 
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(Querist)
27 February 2009
Is it possiable get tax benefit if a
person purchase taxgain mutual fund in
march 09 then sale in april 09.

Any requirment taxgain mutual fund holding minimum period.
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
27 February 2009 If you check, in most of the MF, on which we get deduction u/s 80C, have a lockin period of atleast 3 years. You can not sell them before the expiry of 3 years. So pls clarify, for which MF u are talking about.
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Jitender

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Jitender (Expert)
27 February 2009 if u sell the MF in april then the income exempted become taxable .
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
01 March 2009 You can claim exemption.but it will become taxable in the next year.
in my opinion there are also restrictions frm the mutual fund agst withdrawl of same.
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