Ask Value Research

Tax benefits on Franklin Infotech

Investments in Franklin Infotech Fund do not qualify for tax deduction under Section 80C of the Income Tax Act

I would like to invest in Franklin Infotech Fund via a monthly SIP of ₹5,000. Do investments in it qualify for tax deduction under Section 80C like Franklin Taxshield Fund?
- Padmini

Franklin Infotech Fund is a technology (or IT) scheme. Investments in it do not qualify for tax deduction under Section 80C of the Income Tax Act. Franklin Taxshield is an Equity Linked Savings Scheme (ELSS) or a tax planning mutual fund scheme and investments in it qualify for tax deduction. Tax planning mutual fund schemes come with a lock-in period of three years.

This article was originally published on October 21, 2015.

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