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Switch to an ELSS Fund

Arvind Chandorkar wants to know if he can avail 80C benefits by switching from an equity fund to an ELSS

Please advise whether investment switched from an ordinary equity fund to ELSS fund would be eligible for computing deductions under section 80C of that year? -Arvind Chandorkar

Yes, you can take 80C benefit in same financial year by switching from equity fund to ELSS fund. But if your tenure of investment in equity fund is less than a year then you have to pay short term capital gains tax while you switch.

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