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 ...
Equity Linked Saving Schemes (ELSS) are the best tax saving mutual funds. ELSS mutual funds fall under the diversifiedequity mutual fundscategory. This equity fund invests at least 80% of its assets in equity and equity-related instruments, part of the corpus is invested in debt as well. ELS...
Investing in the assets of various ventures has resulted in great success for investors. This trendy domain of investment has brought auspicious results to the investors, and having a detailed understanding of the same will reward you with the best. In the blog, we will introduce you to the w...
Income Tax Return (ITR) Income tax return is a form through which taxpayers declare their income, deductions and tax payments. Income tax return in India is to be filed by all persons having income above taxable threshold limit. Answer and Explanation: ...
ELSS are mutual fund schemes that invest at least 80% of their net assets in equities. If you’re looking for mutual fund tax benefits, this is the scheme you want. Money invested in an ELSS is deductible up to ₹1.5 lakh u/s 80C of the Income Tax Act, 1961. Notice that section...