Tax benefits of ELSS Mutual Funds ELSS mutual fund is the only category of mutual fund that comes with the tax benefit. Let’s understand in detail about the ELSS tax benefits: As per the Income tax rules, investments in Equity Linked Savings Scheme are eligible for tax deduction under Secti...
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.
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...
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 and on the maximum available deduction of INR 25,000(...
lock-in period of three years. When you invest in L&T MF ELSS Funds, you become eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. In this, the amount invested by you gets deducted from your taxable income. It reduces your overall tax ...
Investing in tax saving mutual funds not just reduces your tax liability but also help you meet various personal financial goals in your life. Features of the Equity Linked Saving Scheme fund: Tax deduction upto ₹1, 50,000/ year under section 80C. 3 years Lock-in period No upper limit...
these funds have the shortest lock-in period of three years. Investing in ELSS Funds makes you eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. In this way, you can reduce your tax liability as the amount invested by you gets deducted from yo...
Under an ELSS mutual fund scheme, you can claim a tax deduction of ₹1,50,000 under Section 80C of the Income Tax Act. This is the only type of mutual fund which entitles such a benefit. You have the potential of earning higher returns over a longer investment horizon. ...
ELSS funds are one of the best avenues to save under section 80C. This is because along with tax deduction, the investor also gets the potential upside of investing in the equity markets. Also, no tax is levied on the long term capital gains from these funds .Moreover, compared to other...
SBI Magnum Tax Gain Scheme consists of a portfolio that has equity funds. Under Section 80C, this equity-linked saving scheme aims to help the investors in availing deduction. It also helps in distributing the surplus income in a periodical way. This fund is considered to have performed neutra...