i wish to invest in MF's for the tax purpose ( reducing the tax burden
)
pls. let me know
1) it is mentioned that dividend income is exempted but what abt. the original investment ?
2) all the MF investments will get rebate ? or only tax savers funds ?
3) if yes, how much investement is allowed ?
4) I heard that
a) tax saver schemes has a compulsory lockin period of 3 yrs. and
cannot be invested thru SIP...these schemes gets rebate.
b) while other schemes who can be invested thru SIP ...won't be
calculted for rebate purpose.
pls. guide me on this tax rebate as well tax exemption concept. as i need to invest before 20th Dec,07 and to provide my investment details to my office.