what are the income tax rebates are provided by the laws to mutual funds?

Question

i wants to know what are the rules for getting income tax rebates if someone investing in mutualfunds.

Answer 1

Firstly u get deduction from your income on the amount invested in Mutual Funds u/s 80 C
Secondly if you sell your mutual fund units after a year of its purchase and thru a recognised Stock Exchange then Capital Gain on its sale will free
Also dividends, if any, given by the mutual fund are fully tax free

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Answer 2

you could get tax rebate under section 80 c for elss funds only.