Indian mutual funds with tax benefits
Top 10 Tax Saving Mutual Funds in India
| Funds | 1-Year Returns (%) | 3-Year Returns |
|---|---|---|
| IDFC Tax Advantage (ELSS) Fund Growth | 23.1 | 11.7 |
| Tata India Tax Savings Fund Growth | 14.6 | 12.3 |
| L&T Tax Advantage Fund Growth | 16.2 | 13 |
| Aditya Birla Sun Life Tax Relief 96 Fund Growth | 19.3 | 12.1 |
Which mutual fund is best for tax exemption?
Best ELSS or tax saving mutual funds to invest in 2022:
- Axis Long Term Equity Fund.
- Canara Robeco Equity Tax Saver Fund.
- Mirae Asset Tax Saver Fund.
- Invesco India Tax Plan Fund.
- DSP Tax Saver Fund.
Which mutual fund has tax benefit?
Mutual fund tax benefits under Section 80C – Investments in Equity Linked Savings Schemes or ELSS mutual funds qualify for deduction from your taxable income under Section 80C of the Income Tax Act 1961. The maximum investment amount eligible for tax deduction under Section 80C, is Rs 1.5 lakhs.
Which tax saver mutual fund is best in India?
List of Top Tax Saving Mutual Funds in India Ranked by Last 5 Year Returns
- Quant Tax Plan. EQUITY ELSS. …
- Mirae Asset Tax Saver Fund. …
- Canara Robeco Equity Tax Saver Fund. …
- DSP Tax Saver Fund. …
- Kotak Tax Saver Fund. …
- ICICI Prudential Long Term Equity Fund (Tax Saving) …
- Tata India Tax Savings Fund. …
- UTI Long Term Equity Fund.
Can I claim tax benefit for mutual fund?
No, all mutual funds do not qualify for tax deductions under Section 80C of the income tax Act, Only investments in equity-linked saving schemes or ELSSs qualify for tax deduction under section 80C. Investors can invest in ELSSs and claim tax deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
Which SIP is tax free under 80C?
equity linked savings scheme
Which SIP is tax free under section 80c? 80C allows deduction upto Rs 1.5 lakh for investment made in ELSS (equity linked savings scheme). You can also start SIP for ELSS mutual funds for which deduction upto Rs 1.5 lakh will be available u/s 80C.
Is SBI Mutual Fund tax Free?
Long term capital gains of up to Rs. 1 lakh a year from ELSS mutual funds are exempt from income tax and long-term capital gains above Rs. 1 lakh are taxed at 10%. Corpus generated out of ELSS investment can also be used to fulfil your financial goals.
Is HDFC SIP tax free?
It comes with a lock-in period of three years and provides individuals/HUFs a deduction from gross total income for investments in Equity-Linked Savings Scheme upto ₹1.5 lakh under section 80C of the Income Tax Act 1961.
Is Tata Ethical fund tax Saver?
The Scheme is managed by Tata Asset Management Limited (TAML). Income of the Fund totally exempt from income tax under Section 10 (23D) of the Income Tax Act, 1961.
Is ELSS taxable after 3 years?
The Long-Term Capital Gains on ELSS are tax-exempt up to Rs 1 lakh, and dividend received is tax-free in the hands of investors. You can continue to invest in this scheme even after the completion of the lock-in period of three years.
Which is better ELSS or PPF?
PPF is suited for individuals who are absolutely risk-averse and can afford a 15-year lock-in period. Whereas those investors who are willing to take a moderate risk to earn higher returns can opt for ELSS. The best way to reduce risk in ELSS to its minimum is by staying invested for the long term.
Which ELSS should I invest in 2021?
Table of Best ELSS Funds for 2021:
| Fund Name | Returns (%) | |
|---|---|---|
| Axis Long Term Equity | 49.71 | 16.18 |
| Mirae Asset Tax Saver | 57.90 | 20.38 |
| Invesco India Tax Plan | 49.85 | 15.17 |
| Aditya Birla Sun Life Tax Relief 96 | 30.76 | 11.69 |
How can I reduce my taxable income in India?
Here’s a list of popular investment options to save tax under section 80C.
- Public Provident Fund.
- National Pension Scheme.
- Premium Paid for Life Insurance policy.
- National Savings Certificate.
- Equity Linked Savings Scheme.
- Home loan’s principal amount.
- Fixed deposit for a duration of five years.
- Sukanya Samariddhi account.
Which is best tax saving SIP?
*Above is list of best ELSS SIP funds having AUM/Net Assets above 500 Crore .
1. BOI AXA Tax Advantage Fund.
| BOI AXA Tax Advantage Fund Growth | |
|---|---|
| Launch Date | 25 Feb 09 |
| NAV (27 May 22) | ₹88.16 ↑ 1.16 (1.33 %) |
| Net Assets (Cr) | ₹596 on 30 Apr 22 |
| Category | Equity – ELSS |
Is SBI Blue Chip fund tax Saver?
These funds have a lock-in period of three years. When you invest in SBI MF ELSS Funds, you become eligible for a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. In this, the amount invested by you gets deducted from your taxable income. It reduces your overall tax liability.
Is there any tax saving SIP?
SIPs can be one of the best tax-saving instruments with high returns on your investments. You can claim a deduction of up to Rs. 1.5 lakh from your taxable income for investing in ELSS through SIPs under Section 80(C) of The Income Tax Act, 1961.
What is SBI tax Advantage fund?
23256 25-23256 SBI Mutual Fund The scheme seeks to generate capital appreciation over a period of ten years by investing predominantly in equity and equity-related instruments of companies along with income tax benefit.
Is ELSS better than SIP?
There is no difference between ELSS and SIP as such. ELSS funds have a lock-in period of at least three years. Meaning, you cannot withdraw your money for three years. If you invest in ELSS via SIP route, each investment will be locked in for a period of three years, from their respective investment date.
Is Tata Digital India fund ELSS?
Fund Overview
The Tata India Tax Savings Fund is an open-ended equity linked tax saving scheme (ELSS) with a compulsory lock-in period of three years. It has the dual advantage of Tax Benefit under Section 80C of the Income Tax Act and the opportunity to catch the long-term upside potential of the Indian equity market.
Is Tata Digital India fund tax free?
If sold after 1 year from purchase date, long term capital gain tax will be applicable. Current tax rate is 10%, if your total long term capital gain exceeds 1 lakh.
Which mutual fund is best for long term?
Best Long Term Mutual Funds to Invest in June 2022
| Fund Name | 1Y CAGR 3Y CAGR 5Y CAGR Till Date CAGR | Till Date CAGR |
|---|---|---|
| Principal Emerging Bluechip Fund (G) | 21.9% | 24.8% |
| SBI Focused Equity Fund (G) | 12.5% | 18.4% |
| Bank of India Tax Advantage Fund Eco (G) | 18.6% | 17.9% |
| Union Long Term Equity Fund (G) | 14.1% | 13.1% |
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