Can I get Section 80C deduction on my mutual fund investments?

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Can I get Section 80C deduction for investing in Tata Dividend Yield Fund? If no, please specify the reason for that.
–Satwik Reddy

Investments in some specific instruments qualify for tax deduction under Section 80C. For example, PPF, NSC, 5-year tax saving FD, etc quality for tax deductions under Section 80C. You can invest in an Equity Linked Savings Scheme or tax saving mutual fund schemes to claim deductions of up to Rs 1.5 lakh in a financial year. An ELSS comes with a mandatory lock-in period of three years. That means, you can withdraw your investments only after three years. Tata Dividend Yield Fund is not an ELSS fund. It is a regular thematic scheme. So your investments in it won’t qualify for deductions under Section 80C. If you are planning to claim deductions under Section 80C on your investments, invest in a tax saving mutual fund scheme. Here are our recommended ELSS schemes: Best ELSS or tax saving schemes

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