If i invested in MF Rs.10000/- (From Jan.09 to Oct.09 SIP Rs.1000/pm). In the month of Nov.09 net value is Rs.15000/- (Rs.10000 + Profit 5000). If i swithover Rs.5000/- to another fund (Same Company) which allows to deductin u/s 80C. In this regard, am i liable to pay short tern capital gain?
Hi frend,
I don't think, a switchover to another fund in the same company would made u eligible to claim deduction u/s 80c.
"Sec 80C provides deduction in respect of specified qualifying amounts paid or deposited by the assessee in the previous year"
switching over to another fund doesnot amount to payment or deposit.
contrary views invited.......
Aggarwal Sarawagi and Co
New Delhi
CA
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