http://www.onemint.com/2008/01/17/taxes-on-mutual-funds-in-india/ Helps You Make Better Financial Decisions Sat, 11 Feb 2012 17:32:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.onemint.com/2008/01/17/taxes-on-mutual-funds-in-india/comment-page-1/#comment-195303 Manshu Wed, 14 Dec 2011 18:23:42 +0000 http://www.onemint.com/2008/01/17/taxes-on-mutual-funds-in-india/#comment-195303 Well, 80C itself will be removed - that's my understanding as of now and so you won't have any tax saving instruments as the draft stands today. This is at least my understanding of it and the draft may change several times before being implemented or not get implemented at all. Well, 80C itself will be removed – that’s my understanding as of now and so you won’t have any tax saving instruments as the draft stands today. This is at least my understanding of it and the draft may change several times before being implemented or not get implemented at all.

]]> http://www.onemint.com/2008/01/17/taxes-on-mutual-funds-in-india/comment-page-1/#comment-195087 billoo378 Tue, 13 Dec 2011 12:37:51 +0000 http://www.onemint.com/2008/01/17/taxes-on-mutual-funds-in-india/#comment-195087 Senior citizens over 65 years and having adequate income and monthly pension do need to save to reduce taxes. Hitherto only ELSS mutual funds were suitable for the simple reason that they involved only 3-year LOCK-IN PERIOD. Now the DTC code would remove this scheme wef 1.4. 2012. So what can they do? All other tax saving options involve lock-in of a minimum 5years which is too long. Any ides? Senior citizens over 65 years and having adequate income and monthly pension do need to save to reduce taxes. Hitherto only ELSS mutual funds were suitable for the simple reason that they involved only 3-year LOCK-IN PERIOD. Now the DTC code would remove this scheme wef 1.4. 2012. So what can they do? All other tax saving options involve lock-in of a minimum 5years which is too long. Any ides?

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