Will there be any tax deduction on Rs. 1000 monthly SIP
If I do monthly SIP of Rs. 1000 for 30 years, will there be any tax deduction on each monthly instalment of Rs. 1000. Please advise?
Please note that no tax is deducted on your monthly SIP instalment of Rs. 1000 irrespective of number of years of your investment.
Please go ahead with your SIP investment without worrying about tax deductions.
Thanks for writing to Advisorkhoj.
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