News From Press Why you could lose income tax deductions if you invest in ELSS funds on March 31

Why you could lose income tax deductions if you invest in ELSS funds on March 31

SEBI's new rule means that units would be allotted only when the money hits the fund house's account. Any delay could result in loss of tax deductions for this fiscal

Moneycontrol Mar 25, 2021

Investors in tax-saving mutual funds need to pull up their socks and invest much before the March 31 deadline. A new rule came into effect about a couple of months back. SEBI’s rule on NAV applicability means that allotment of units on your investment in a mutual fund (MF) will happen only when the money reaches the asset management company’s (AMC’s) bank account.

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