In India, the quantum of Income Taxes can be somewhat reduced by investing smartly in tax saving schemes.
ELSS/Equity Taxing Saving Mutual Funds/MF, Equity Linked Savings Scheme, Top ELSS, Best ELSS Funds, ELSS Funds India
There are various sections of the Income Tax Act, which deal with tax deductions and exemptions such as Section 80C, 80D, 80CCF and others. Many government and private sector organizations provide a wide range of tax saving options for Indian residents. Income tax savings schemes are offered as per the relevant sections of the Income Tax Act, The chief among these is the Section 80C which offers potential tax savings options of up to Rs.
There are other sections also that provide benefits to individuals. Major income tax saving instruments include:. Tax saving mutual funds are also known as Equity Linked Savings Scheme or ELSS.
Saving Schemes in India, including tax saving schemes
These funds offer the opportunity for capital appreciation through investments in equities while saving on taxes along the way. Also, long term capital gains from these schemes are tax free, while dividend options for such funds will enable capital gains even during the lock-in period.
Major fund houses offering ELSS funds are:. Post office tax saving schemes also fall under the ambit of Section 80C. You can claim up to Rs.
Some of the major tax saving schemes offered by the post office are:. Tax saving fixed deposits are available from scheduled banks.
These fixed deposit schemes are available with a tenure of 5 years. Investors can claim a maximum of Rs. Top banks offering tax saver FDs in India are:. Section 80C allows for exemptions up to Rs. Apart from 80C, there are various other sections of the Income Tax Act that provide exemptions to taxpayers.
Despite the cuts in interest rates, a number of small savings schemes still continue to offer a range of tax benefits. For example, deposits made under savings schemes such as the PPF and the SSA Sukanya Samriddhi Account are still eligible for tax deductions under Section 80C.
Returning you to where you were Sign in with Facebook Recommended for the best experience. Home Tax Tax Saving Schemes Tax Saving Schemes. Income Tax Saving Schemes: Major income tax saving instruments include: Also called PPF, you can make a maximum contribution of Tax saving schemes india 2013. PPF cannot be withdrawn before 15 years without penalty.
Unit Linked Insurance Plans: Also called ULIPs, these tax saving schemes allow for a maximum exemption of Rs. Apart from investment exemption, the maturity earnings are also tax exempt.
Tax Saving Schemes in India – With all Saving Sections
Tax Saving fixed deposit: Tax saving fixed deposits are available for a fixed stock market daily closing history of 5 years and a maximum of Rs.
Also called NSC, this instrument can be used to earn tax saving interest up to Rs. This investment avenue allows for a maximum exemption of Rs. Interests are chargeable, with investors being allowed to claim tax exemptions on these for Fundamentals of futures and options markets john hull. Tax Saving Mutual Funds: These funds allow for exemptions up to Rs.
ELSS are popular instruments make money botting runescape accounts tax savings through mutual funds.
What are the significant features of ELSS? - Tax saving mutual funds: Equity Linked Savings Scheme | The Economic Times
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