Investments made in an ELSS fund are eligible for tax benefits under Section 80C of the Income Tax Act, 1961. 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...
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...
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. ...
Equity Linked Savings Scheme (ELSS) are a special category of mutual funds which invest predominantly in the equity market. They come with a lock-in period of 3 years and give you market-linked returns. The invested amount is also eligible for tax benefits under Section 80C. WHY ELSS? If...
Section 80C of Income tax act permits this deduction, there are other classes of investments also under this section, namely LIC Premium, PPF,etc , If you have investment in other products e.g. You are regularly paying LIC premium then your investment in ELSS will be exempt to a reduced ...
Besides, under Section 80 C of the Income Tax Act, an investor can claim up to Rs. 1,50,000 as tax deductions for investing in a ULIP. However, it’s important to remember that suchinvestment plansgenerally have a lock-in period of around five years. An investor can choose to shift ...
Performance of Indian Mutual Funds : An Empirical Study of Select Equity Linked Saving Schemes Main features of Equity Linked Saving Schemes (ELSS), which are just like diversified equity mutual funds, include tax-saving benefits under section 80C of the Income Tax Act, no implication of dividend...
Under the Income Tax Act Section 80C, investment in ELSS mutual funds and PPF (Public Provident Fund) give you a full tax deduction up to Rs 1.5 lakh every financial year. Under Section 80C, you cannot claim a deduction of more than Rs 1.5 lac when investing in ELSS or/and PPF and/or...
As compared to other tax-saving avenues, 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 ...
Under 80C ELSS Mutual Funds Equity Linked Savings Scheme or ELSS are tax saving mutual funds where you can save up to ₹46,800 in taxes under Section 80C with a proven track record of consistent returns. Browse ELSS Tax Saving funds ...