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Tax Exemption in Mutual Funds

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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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Click here to check out the various tax saving options for FY 2010-11.

Warm Regards,


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