Equity Linked Saving Scheme (ELSS) or a tax saving mutual fund schemes helps investors to save taxes under Section 80C of the Income Tax Act 1961. The investments in ELSS are subject to a lock-in period of 3 years and qualify for a tax deduction of up to Rs 1.5 lakh....
ELSS or Equity Linked Savings Scheme are a type of mutual funds that mainly invest in equity and offer tax-saving benefits under Section 80C of the Income Tax Act. ELSS has a 3-year lock-in period, offering the potential for high returns and tax savings, making it a popular choice for ...
ELSS Mutual Funds come under Section 80C of the Income Tax Act, under which you can avail of tax deductions of INR 150,000 p.a. They provide the highest returns with the smallest lock-in periods among all 80 C investments. Download digibank Now How to use an ELSS Calculator? Using ...
Moreover, financial advisors say the chances of generating a higher real rate of return – i.e., taking into account the impact of inflation – is greater for ELSS investments, as compared to other tax-saving instruments under Section 80C of the Income-Tax Act. ...
Tax Saving Schemes: Make Investment in ELSS mutual fund, NPS (Pension Plan), Health & Term Insurance to save tax up to ₹78,000 under section 80C,80CCD & 80D.
Yes, you can invest in ELSS mutual funds (ELSS) to save tax under Section 80c. Can I track investments made on other Mutual Fund apps here? Yes you can! I have invested in mutual funds offline. Can I track them here? Yes, you can use our Mutual Fund portfolio tracker facility to tr...
Investments made in ELSS funds are eligible for tax deduction under Section 80C of the Income Tax Act up to a limit of Rs. 1.5 lakh in a financial year. Moreover, capital gains earned on ELSS funds are tax-free up to Rs. 1 lakh. Are ELSS funds risky? ELSS funds invest in equities...
The tax deduction of up to ₹1.5 lakh under section 80C helps reduce your income tax liability. This tax benefit comes with the upside of equity exposure and wealth creation. Professional Fund Management ELSS funds benefit from professional equity research and fund management, which ensures your ...
1. Tax Benefit of ELSS Mutual Funds Tax saving is the prime reason for ELSS being the great choice as an investment option. Investment to the extent of Rs. 1.5 Lakhs annually in ELSS qualifies for the tax deduction under section 80C of the Income Tax Act, 1961. ...
Having a statutory lock-in period of 3 years, ELSS Funds enable long term wealth accumulation along with the benefit of tax saving. Investing in ELSS Funds makes you eligible to claim a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act 1961. ...