Under which sections of the Income Tax Act can tax benefits for investing in mutual fund units be claimed?Read to know the sections under which tax benefits for investing in mutual fund units be claimed.
10 Dec 2008
income from MF units is exempt from income tax with effect from July 1, 1999.
Investors can claim tax rebate under section 88 of Income Tax Act, 1961 with investments in Equity Linked Saving Schemes (ELSS). Tax benefits will also be available under section 54EA and 54EB with regard to relief from long-term capital gains (LTCG) tax in specific schemes.