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 understand in detail about the ELSS tax benefits: As per the ...
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...
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 Funds to accumulate wealth for children’s education, planning for retirement and other long term goals....
a. Tax Benefit While Investing in Mutual Funds Equity Linked Savings Scheme (ELSS) are open-ended Equity Mutual Funds. When an investor puts in any amount in such funds, the investment qualifies for deduction under section 80C of the Income Tax Act. As such, if the investor puts in Rs. ...
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(...
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...
Yes, you can invest in ELSS funds through SIP. SIPs are a great way to invest in ELSS funds as it allows you to put fixed amount regularly, ensuring you don't have to rush at the last moment and at the same time giving you the benefit of rupee cost averaging. ...
Also public sector ELSS schemes are the most risk prone towards the market variations. Market state is more a descriptive variable for the NAVs of private sector ELSS. All the private sector funds under study are giving returns more or less in close proximity to their average returns. ...
Therefore, as an investor, your main focus will be on finding such an investment plan that helps you save tax and aids in generating tax-free income. One of the best ways in getting a tax benefit is to invest in a tax-exempt mutual fund. Tax-exempt mutual funds are simply a ...