Whether investment out of exempt income is tax deductible
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 July 2012
When i get dividend on equity mutual funds a it is exempt from tax & if i reinvest that dividend in mutual funds did i get the deduction u/s 80 c.(Mutual fund is dividend reinvestment plan)
04 July 2012
No, Investment out of taxable income only eligible for deduction u/s.80C
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