Validity of a mutual fund to be treated as a income tax saving insrtrument

HI, i have invested in Franklin tax shield mutuatl fund in August 2013 and got income tax benefit under it for FY 2013-14. If I continue to invest in it, will I be eligible to get income tax benefit under it for FY 2014-15 ? my financial adviser told me that it is only valid for that year when the fund was started. please help

asked Jun 16 '14 at 14:04 by Rupali 11

Tax benefit can be availed in the year in which the amount is invested. So if you continue to invest in same fund this year with more money, tax benefit would be available.

answered Jun 27 '14 at 08:09 by Pankaj Batra 5.2k320


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Asked: Jun 16 '14 at 14:04

Seen: 1,505 times

Last updated: Jun 27 '14 at 08:09