POSTED BY March 2, 2011 7:10 pm ONE COMMENTON
Can I and my wife jointly invest in ELSS MF, and still can both get tax exemption (till DTC is implemented).
What is survivor mode in MF?
Thanks in advance for addressing my queries,
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One reply on this article “Joint investment in ELSS | Survivor Mode in MF”
1. ELSS – the tax exemption can be split between the two holders (50-50 or 60-40 etc), but both can’t claim 100% of the investment.
2. Survivor mode – If you invest in Anyone or survivor mode in MF, in case of death of one of the holders, the folio can be operated on by the other person.