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News From Press A debt mutual fund scheme under Section 80C likely in budget 2018

A debt mutual fund scheme under Section 80C likely in budget 2018

Source: Economic Times Jan 12, 2018

The budget might have a new mutual fund scheme for you. According to two people familiar with the development, the finance minister may introduce a debt mutual fund scheme in the budget that qualifies for a tax deduction under Section 80C of the Income Tax Act.

"We are quite hopeful that we will get a debt scheme that will qualify for tax deductions like an ELSS," said a senior mutual fund official who refused to be named. "The talks have been going on for some time. It seems, the government is okay with the product," says another mutual fund industry participant.

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