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