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I am from India, I have mutual fund investment holdings. I have two types of mutual fund category ELSS and NON-ELSS.
I know ELSS category mutual funds will be tax exempted under 80C. But I am not sure about NON-ELSS mutual fund. I may hold these fund more than 3 years. Can declare these funds under 80C.
Example Fund :-
Non-ELSS - (DSP blackrock micro cap Reg Growth)
ELSS - ICICI prudential long term tax saving fund
But I am not sure about NON-ELSS mutual fund. I may hold these fund more than 3 years. Can declare these funds under 80C
No you cannot get any exemption in tax on regular Mutual funds [Non-ELSS]
The purpose of creation of specific ELSS scheme with 3 years lock-in is to give benefit in taxes.
