CBDT Notifies “HDFC Retirement Savings Fund” for S. 80C Deduction (Savings / Investments)

CBDT Notifies “HDFC Retirement Savings Fund” for S. 80C Deduction regarding Savings / Investments from FY 2015-16 (AY 2016-17) onwards

The CBDT, in exercise of the powers conferred by clause (xiv) of sub-section 2 of the section 80C of the Income-tax Act, 1961 (43 of 1961), has specified the “HDFC Retirement Savings Fund”, set up by the HDFC Mutual Fund registered under the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 having registration No. MF/044/00/6, dated the 30th June 2000, as a pension fund for the purposes of the said section for the assessment year 2016-17 and subsequent assessment years, effective from the date of publication of this notification in the Official Gazette.

In other words, HDFC Retirement Savings Fund is now to be treated as Notified fund for the purpose of savings / investments made under Section 80C of Income Tax from FY 2015-16 (AY 2016-17) onwards.

CBDT Notification No. 91/2015 dt. 9th December, 2015

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