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Is investor eligible for rebate on income tax by investing in a MF?

April 26, 2017eligible Investing investor MF rebate

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Is investor eligible for rebate on income tax by investing in a MF?

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Yes in case of certain specific Equity Linked Saving Schemes, tax benefits are available under Section 88 of the Income Tax Act. In such cases the fund prospectuses explicitly states that it is a tax saving fund. In such cases 20% of your contribution will qualify for rebate under Section 88 of the Income Tax Act.