Which SIP is best for tax free under 80C?
Best Performing SIP Funds to Invest in Equity Linked Saving Scheme (ELSS) FY 21 – 22
- BOI AXA Tax Advantage Fund.
- Canara Robeco Equity Tax Saver.
- Mirae Asset Tax Saver Fund.
Which mutual fund comes under 80C?
ELSS mutual funds
ELSS mutual funds are the only class of mutual funds that are covered under Section 80C of the Income Tax Act, 1961. By investing in an ELSS, you are entitled to claim a tax rebate of up to Rs 1,50,000 a year.
Is ELSS covered under 80C?
ELSS mutual funds are the only class of mutual funds that are covered under Section 80C of the Income Tax Act, 1961. By investing in an ELSS, you are entitled to claim a tax rebate of up to Rs 1,50,000 a year.
Which mutual funds are covered under 80C?
The Tax deduction under this scheme is available for Provident Fund (PF) & Voluntary Provident Fund, Public Provident Fund (PPF), Life Insurance Premiums, Equity Linked Saving Scheme (ELSS) of Mutual Funds.
How to invest in ELSS funds under Section 80C?
This period is less than most other investment avenues available under section 80C. You can make a lump-sum investment or start a SIP to invest in best performing ELSS funds in India. The minimum amount of SIP allowed for investing in ELSS mutual fund is Rs 500.
What are the tax benefits of investing in ELSS mutual funds?
Investments in ELSS mutual funds are eligible for tax benefits under section 80C of the Income Tax Act. You can save up to Rs 1.5 lakh per year by investing in ELSS mutual funds. It is worth noting that ELSS mutual funds come with a lock-in period of three years. This period is less than most other investment avenues available under section 80C.
Which are the top 10 ELSS mutual funds in India?
Top 10 Elss Mutual Funds Fund Name 1Y Returns Rating Fund Size (in Cr) Quant Tax Plan Fund 89.1\% 5 star ₹ 327 Mirae Asset Tax Saver Fund 63.1\% 5 star ₹ 8,739 Canara Robeco Equity Tax Saver 65.5\% 5 star ₹ 2,469 BOI AXA Tax Advantage Fund 71.2\% 4 star ₹ 490
What is the investment objective of IDFC tax advantage (ELSS) fund?
The investment objective of the Scheme is to seek to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. There can be no assurance that the investment objective of the scheme will be realised. IDFC Tax Advantage (ELSS) Fund is a Equity – ELSS fund was launched on 26 Dec 08.