Income arising from Mutual Funds set up by any public sector bank or public financial institution – notified u/s 10(23D) is exempted.
SBI Mutual Fund, CANBANK Mutual Fund, LIC Mutual Fund, The India Magnum Fund N.V. Mutual Fund, Indian Bank Mutual Fund, PNB Mutual Fund, BOI Mutual Fund, Asian Convertibles and Income Fund Mutual Fund, GIC Mutual Fund, Canbank (Offshore) Mutual Fund, BOE Mutual Fund set up by the Bank of Baroda, ICICI Mutual Fund, Indbank Offshore Mutual Fund, Commonwealth Equity Fund Mutual Fund set up by the Canara Bank, Kothari Pioneer Mutual Fund authorised by the Securities and Exchange Board of India, Taurus Mutual Fund authorised by the Securities and Exchange Board of India, Morgan Stanley Mutual Fund authorised by the Securities and Exchange Board of India, Apple Mutual Fund, CRB Mutual Fund, Shriram Mutual Fund, 20th Century Mutual Fund, Birla Mutual Fund, J.M. Mutual Fund, IDBI Mutual Fund, Indbank Communications (Offshore) Fund, HB Mutual Fund, Alliance Capital Mutual Fund, Indbank Invesco (Offshore) Fund.