sir
i want to know which investment is tax fee in terms of its maturity.
ex : mutual funds investment is claim deduction u/s 80 c . but after of its maturity it's income become taxable .
so I want to know tax fee investment
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tax free investment
Replies (3)
Mutual funds investment is claim deduction u/s 80 c i.e. ELSS., and is TAXFREE when matured . So whatever maturity proceeds you receive after 3 years lock in period is totally tax-exempt.
it's treated as a long term capita gain.. and
what about LIC maturity.
what about LIC maturity.
LIC policies purchased earlier to 2002 were tax-exempt. But for new investment now, main criteria is:: it should be having section 10(10D) applicability for tax free redemption proceeds.
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