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AMFI wants govt to hike investment limit u/s 80C

AMFI has asked for mutual fund schemes with a three-year lock-in as an avenue for investors to park their capital gains.

June 10, 2014 4:13 IST | India Infoline News Service
The Association of Mutual Funds in India wants the Finance Ministry to allow fund houses to introduce a mutual fund linked retirement plan, according to a media report.
AMFI said that the plan would not be an annuity plan in nature. It would invest 60% in equities and 40% in debt in the beginning with the proportion of equities decreasing every year with the investor exiting at 55 years of age, the report added.
AMFI also wants the government to increase its investment limit of Section 80C of the Income Tax Act from Rs. 1 lakh to Rs. 2 lakh, the report said.
AMFI has asked for mutual fund schemes with a three-year lock-in as an avenue for investors to park their capital gains.

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