While there is no upper limit to the amount that can be invested, a maximum of Rs. 1.5 lakh is eligible for a tax deduction as per the IT Act. By investing this amount in an ELSS, one can save up to ₹46,800 a year in tax outgo. Tax benefits of ELSS Mutual Funds ELSS mutual...
Moreover, equity fund schemes like ELSS (Equity-Linked Savings Schemes) qualify for tax deduction under Section 80C. This fund is the only equity-oriented plan which compares with other asset classes under 80C. So in any tax season, if you are looking at reducing your income tax liability,...
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To understand why it is an excellent investment option for the New Year, we have to look at the benefits of ELSS Mutual Funds. They are as follows: Wealth Creation: Firstly, ELSS enables you to invest in the equities market for the longer term. By locking in your finds for a minimum ...
ELSS Funds:These are Equity-Linked Savings Schemes shorter for ELSS funds. It is the only category inMutual Fundsthat offers tax benefits to investors under Section 80C of the Income Tax Act. Based purely on equity funds it has a lock-in period of three years. Thereby, suitable for investor...
However, close-ended funds allow redemption only at the time of the maturity of the mutual fund. Similarly, ELSS mutual funds have a lock-in period of three years. Tax Savings: Investment of up to Rs. 1,50,000 in ELSS mutual funds qualifies for tax benefit under section 80C of the ...
This deduction is also applicable to the registration and stamp duty charges of your home. The maximum housing loan tax exemption under Section 80C is Rs. 1.5 lakhs in a financial year. Note that there are several other investment options such as ELSS funds, PPF, and tax-saving FD, which...
How do Index Funds work? An index is a group of securities that define a particular market segment. Since index funds track a specific index, they fall under passive fund management. Under passively fund management...
The profits or losses are shared by the investors in proportion to their investments. The mutual funds normally come out with a number of schemes with different investment objectives which are launched from time to time. A mutual fund is required to be registered with Securities and Exchange Boar...
Tools for comparing the rolling returns of multiple funds or indices A simple Google sheets script for implementing Goal Seek without the limitation of add-ons. This is used in our Robo Advisory Google Sheets edition. Updated comprehensive stock analysis spreadsheet. ...