Do all mutual funds qualify for tax benefits under Section 80C?

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Do all mutual funds qualify for tax saving benefits or is it only a specific set of MFs like ELSSs that qualify for tax benefits? Are all ELSS funds covered under tax exemption or any specific set of funds? Is it covered under section 80C or we can get rebate under any other section? I have exhausted my Section 80C investment limit of Rs 1.5 lakh along with investments of Rs 50,000 in NPS. Looking forward to tax saving investment tips for my working wife and myself.
- Ritin R Srivastava


Only investments in equity linked saving schemes or ELSSs qualify for tax deduction under section 80C. Investors can claim tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. All ELSS funds qualify for the tax deduction under Section 80C.

Investments in NPS qualify for exclusive tax deduction under Section 80CCD(1B). That means you can invest Rs 1.5 lakh for deductions under Section 80C, and extra Rs 50,000 for additional benefit under Section 80CCD(1B).


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