WebNov 13, 2024 · The minimum amount for most ELSS plans is as little as Rs 500 with no upper limit. However, only a sum up to Rs 1.50 lakh per financial year is eligible for deduction under Section 80C. If you invest the entire Rs 1.5 lakh in ELSS you can effectively up to Rs 46,800, if you are in the 30% tax slab. Ideally, if the ELSS you invested fares … WebApr 4, 2024 · Tax Benefits: One of the main advantages of investing in ELSS mutual funds is that they offer tax benefits. Investors can claim deductions up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. High Returns: ELSS mutual funds invest primarily in equities, which can offer higher returns than other investment options in the long run. …
ELSS Funds-Tax Saving Mutual Fund Investment SBI MF
WebELSS mutual funds provide the opportunity to earn reasonable returns and save tax. These funds invest at least 80% of the scheme’s assets in equities. So, the returns you could earn on them are directly linked to the stock market’s performance. This can be a suitable option if you want to invest for long-term goals such as creating a ... WebOnly ELSS Mutual Funds offer tax benefits under section 80C of the Income Tax Act. As per this section, one can avail tax exemptions up to INR 1,50,000 by investing in ELSS funds. Introduction to Equity Linked Savings Scheme (ELSS) ELSS is a dedicated mutual fund scheme that allows investors to save tax. It also provides an opportunity for long ... morris hills high school calendar 2023
ELSS funds – What is it & How to invest in ELSS Mutual Funds?
WebELSS offers tax-saving benefits under Section 80C of the Indian Income Tax Act. 70% to 80% of these mutual funds are invested in equities and are focused on long-term wealth … WebELSS or Equity Linked Savings Schemes are Mutual fund investment schemes that help you save income tax. That’s why they are also known as tax-saving funds. The Income Tax Act, under section 80c, allows taxpayers to invest up to INR 1.5 lakh in specific securities and claim it as a deduction from their taxable income. WebTax Saving Mutual Funds, also known as (Equity Linked Savings Schemes) ELSS, are a type of Equity Mutual Fund that offers tax saving benefits under Section 80C of the … morris hills baptist church chattanooga