The investments in ELSS receive tax benefits under section 80C of the Income Tax Act. What is the lock-in period in ELSS Mutual Funds? What is the maximum tax benefit that can be availed by investing in ELSS every year? Why must one invest in ELSS? Who should invest in ELSS? Related...
*Actual tax benefit will vary from person to person. Tax benefit shown here is calculated at the highest tax slab rate of 31.2% including education cess of 4% on the maximum allowable deduction of Rs. 1,50,000 under Section 80C of the Income Tax Act,1961. ...
Actual tax benefit will vary from person to person. Tax benefit shown here is calculated at the highest tax slab rate of 31.2% (excluding surcharge if any) and including education cess on the maximum allowable deduction of INR 1,50,000 for ELSS / Life Insurance products under Section 80C ...
They are categorised as tax-saving mutual funds that fall under Section 80C of the Income Tax Act. Under this act, ELSS funds allow you to claim deductions of up to Rs 1,50,000 annually, which can help you save Rs 46,800 in tax. Features of an ELSS Mutual Fund: Dual Benefit ELSS...
ELSS (or Equity Linked Savings Scheme)is a diversified mutual fund that invests in stocks and also offers benefits under Section 80C. There is no limit on maximum investment but tax benefit is available only on Rs 1.5 lakh. The lock-in period is 3 years. Returns are neither guaranteed nor...
Investment objective- An Equity Linked Savings Scheme that aims to generate long term capital appreciation by primarily investing in equity and related securities and provides tax benefit under section 80C of Income Tax Act, 1961. Suitable for- Long term wealth creation solution. ...
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. ...
The funds of the investors are invested in government or corporate bonds and securities. So, they have a fixed rate of interest which is announced by the Union Government during the budget. It is also free from any market risk. Further, it attracts tax benefit, i.e. the amount deposited ...