Thursday, December 27, 2007

Tax Savings Products MUTUAL FUNDS

Terms of investments

Investment: In equity linked savings schemes is eligible for tax break. Returns: Returns are linked to equity market performance.

Availability

Eligibility: Individuals

Available at: Mutual Funds

Tax benefits

IT Section applicable: 80C

Limit on investment: Upto Rs 1 lakh.

Withdrawal: Tax free after 1 years

Liquidity

Premature withdrawal: Minimum lock-in of 3 years.

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