what is the exemption limit of income for the above and under which section
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Quick Summary
This discussion clarifies tax implications for FDR income and mutual fund investments. While FDR income offers no general exemption for non-senior citizens, investments in ELSS mutual funds qualify for deductions under Section 80C. Additionally, long-term capital gains (LTCG) are exempt up to £1,00,000.
You can claim deduction u/s 80C if you invest in Mutual funds which comes under category of ELSS. There is no exemption for FDR income fir non senior citizens.