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 fund is the only category of mutual fund that comes with the tax benefit. Let’s ...
At DBS Treasures, you can invest in Equity-linked Savings Schemes and get a tax benefit under section 80C of the Income Tax Act. Under an ELSS, your funds are handled by fund managers and also have tax benefits. Under Section 80C of the Income Tax Act...
Features of an ELSS Mutual Fund: Dual Benefit ELSS funds are the only type of mutual funds in the Indian market, that give you the dual benefit of a tax rebate and wealth appreciation. Under Section 80C of the Income Tax Act, 1961, one can save Rs 46,800 in a year, as tax deductio...
Investors in the higher tax bracket may invest in these funds to save taxes. It is because the long term capital gains up to Rs 1 lakh are tax-free. Moreover, the gains exceeding Rs 1 lakh are taxed at the rate of 10% without the benefit of indexation. You may invest in ELSS ...
Expense Ratio: TheExpense Ratioshowcases the percentage of your investment that goes towards managing the fund’s operational costs. A lower expense ratio indicates that less money goes into maintaining the fund, and your earnings have a better chance to increase thanks to the benefit of compound...
Insurance gives you the double benefit of financial security for your loved ones and tax saving. Premiums paid up to ₹1,50,000 in life insurance schemes are exempt from tax under Section 80C subject to conditions. Additionally, if the policy pays you an amount on maturity (like in Savings...
Learn about ELSS Mutual Funds, a tax-saving investment option in India. Understand how ELSS funds work and their benefits for long-term wealth creation.
Mutual funds also offer a benefit of saving tax by investing in Equity Linked Savings Scheme (ELSS). So, as to encourage small investors to invest and gain from equity mutual funds, the Government of India in the year 1992introduced the Equity Linked Savings Scheme (ELSS). The objective of...
Fund Type: Open-End About Fund Category 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...
They offer a high return on investment, along with income tax benefits. Falling under the diversified mutual funds’ category, Equity Linked Saving Scheme provides a dual benefit of tax saving and capital appreciation. So, the investors can choose an ELSS fund that meets all their needs and ...