Tax Exemption in Mutual Funds
Question: Is investment in in mutual fund (any) has tax exemption under 80c
Answer: Dear Mr Mishra, investment in specific equity mutual fund schemes qualify for tax deduction under section 80C. They are called ELSS mutual fund schemes and come with a lock-in period of 3 years during which you will not be allowed to withdraw the invested amount. ELSS funds are long-term investments that aim at capital growth.
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