UTI Retirement Fund notified under Section 80C
08 11 2005
Tuesday
As per the new Section 80C of the Income Tax Act, inserted with effect from 1.4.2006, certain savings and investment up to one lakh rupees is deducted from the total income for computing taxable income. Clause xiv specifies investment in certain notified pension funds set up by Mutual Funds. Now the Government has notified the UTI-Retirement Benefit Pension Fund set up by the Unit Trust of India.
NOTIFICATION NO. , Dated: November 3, 2005