WebJan 12, 2024 · ELSS is the name given to tax-saving mutual funds where the portfolio is mostly invested in equity funds or equity-related funds. It is also known as the tax-saving … WebFeb 9, 2024 · ELSS are primarily tax saving schemes as investors can avail a tax exemption of up to Rs. 1.5 lakhs from their yearly taxable income as per Section 80C of the Income Tax Act. ELSS mutual funds follow an asset allocation strategy comprising 65% of equity and equity-linked securities, such as listed stocks.

Income Tax Notice: नए फाइनेंशियल ईयर में क्या …

WebOct 20, 2024 · What makes ELSS different from other equity mutual fund schemes is that investment upto ₹1.5 lakh in ELSS is eligible for deduction from taxable income in a … Web1 day ago · The tax liability under the old tax regime was based on income slabs with a tax rate of 5% for income between 2.5 lakhs to 5 lakhs, and 15% for income between 5 lakhs to 7 lakhs. This was further reduced by a rebate available under section 87A, but only if the income was less than 5 lakhs. hawthorne and wood durham nc

ELSS - Know What is ELSS, Its Meaning, Features & Benefits

WebSep 25, 2024 · Promote Long term Savings; ELSS Fund Comes with a minimum lock-in period of 3 years and one can be extended to any number of years which promotes long … WebSep 25, 2024 · Promote Long term Savings; ELSS Fund Comes with a minimum lock-in period of 3 years and one can be extended to any number of years which promotes long term savings. Tax benefits: ELSS is known for these tax-saving benefits by investing in it investors can claim deductions up to Rs 1,50,000 under section 80C of the Income-tax Act. WebDec 27, 2024 · An ELSS fund or an equity-linked savings scheme is the only kind of mutual funds eligible for tax deductions under the provisions of Section 80C of the Income Tax … botas old west