Should I continue in Nippon tax saver?
Though the performance of Nippon India Tax Saver (ELSS) Fund has not been good in the past, the scheme has started picking up recently. It is better to wait for now. You can exit the fund when it starts performing really well.
Is it safe to invest in ELSS?
ELSS is the only kind of mutual funds covered under Section 80C of the Income Tax Act, 1961. ELSS funds have the shortest lock-in period among all Section 80C options. Nevertheless, it offers better scope for long-term wealth creation, people with more risk tolerance favour it.
What is Reliance tax Saver ELSS?
Reliance Tax Saver ELSS Fund is an open-ended equity linked mutual fund scheme. This fund scheme comes with a lock-in period of 3 years and works as a great tax saving investment option.
What is DSP Tax Saver Fund?
DSP Tax Saver Fund is an ELSS or equity linked saving scheme that qualifies for tax deduction under Section 80C of the Income Tax Act. Like all tax-saving investment options available under Section 80C, ELSS also comes with a mandatory lock-in period.
Are the returns on ELSS taxable?
Why ELSS is tax-free? The redemption proceeds of ELSS are not entirely tax-free. The long-term capital gains of up to Rs 1,00,000 a year are tax-free, and any gains above this limit attract a long-term capital gains tax at the rate of 10\% plus applicable cess and surcharge.
Is ELSS return still tax-free?
ELSS or tax saving mutual funds qualify for tax deduction under Section 80C of the Income Tax Act. One can invest in ELSSs and claim a maximum tax deduction of up to Rs 1.5 lakh in a financial year. However, many investors were attracted to ELSS mainly because the returns from them were tax-free after the lock-in period of three years.
Can I invest in reliance tax Saver fund?
Adult Indian residents,either singly or jointly (maximum of three)
Is the dividend from ELSS taxable?
On the other hand, in a dividend scheme, investors get a regular dividend income, whenever dividend is declared by the fund, even during the lock-in period. For tax purposes, returns from an ELSS scheme are tax free.