Which Mutual Fund Schemes are eligible for tax deduction under section 80C?

Mutual Funds Schemes which give tax deduction under section 80C are:


1. ELSS Fund (Equity Linked Savings Schemes)
2. Mutual Fund Pension Plans

 
Equity Linked Savings Scheme  

ELSS fund (Equity Linked Savings Scheme), i.e., a mutual fund scheme, where tax deduction of up to 1 lakh (per financial year) from total income is available under Section 80C of the Income Tax Act, 1961

The ELSS Scheme is locked in for 3 years. Lock-in for three years prevents unnecessary withdrawals and allows your money to grow over a period of time.

Also refer
Tax Treatment for Equity Linked Savings Scheme (ELSS)

Tax Saving Scheme Performance

Source: http://nseindia.moneycontrol.com

2. Mutual Fund Pension Plans

The pension funds offered by mutual fund houses rarely get a mention for deduction under section 80c of income tax act.

Mutual Fund Pension Plans funds are debt-oriented tax savings funds and most neglected investment option – due to lack of awareness.

 Mutual Fund Pension Plan schemes get tax benefit (up to Rs1 lakh) as a Notified Pension Fund U/S 80C of the Income Tax Act, 1961, subject to the fund being notified by the central government under Section 80C(2)(xiiic) of the Income Tax Act, 1961. 

 Investment in Mutual fund Pension Plans is locked in for 3 years and exit load will also be charged if one exit before the age of 58 years (subject to lock in period of 3 years).

The available mutual fund pension fund are

1. Templeton India Pension Plan
2. UTI-Retirement Benefit Pension Fund

Source: http://www.moneycontrol.com/mutual-funds/compare-funds/All

Also refer

I am not able to redeem all units in ELSS Scheme?

 Explain Lock in Period in ELSS Mutual funds