Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
ELSS, in general, is one of the best options among the instruments eligible for tax benefits under section 80C both in terms of potential to grow as well as tax efficiency of the returns.
That's what ELSS investments have to offer, coupled with other benefits.
The fund offers deduction under Sec. 80C and the minimum lock-in period would be three years as in any other ELSS.
Insurance companies are seeking a separate deduction limit of Rs 1 lakh for insurance premium payment under Section 80C of the Income Tax Act in the upcoming Union Budget to bring in more people under the ambit of insurance. The insurers also want reduction in the goods and services tax (GST) rate of 18 per cent currently applied on health insurance products to 5 per cent to make such products more affordable to common people. Finance Minister Nirmala Sitharaman will present the Union Budget for 2022-23 on February 1.
As long as the money has been 'paid or deposited in the previous year', an assessee should be eligible for tax relief, says Harsh Roongta.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
As per the latest data available with mutual fund industry body AMFI, the total AUM of ELSS, or tax-saving funds, stood at Rs 25,069 crore at the end of January 2013.
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Tax-saving equity-linked savings schemes saw month-on-month rise in inflows at Rs 1,166 crores.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Should taxpayers invest in Rajiv Gandhi Equity Saving Scheme to save tax? How much tax will they actually save? And what are the pros and cons you should check out before going for this scheme? Salil Dhawan offers his take.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The top five recommended ELSS based on Fundsupermart.com's in-house research methodology.
Equity linked saving schemes, ELSS, became popular because they saved you taxes. Now the same ELSS funds have shown that investors can make money as well.
Tax saving funds can not only help your money grow but can also help you save and plan your taxes. Here's a list of top 10 ELSS funds in terms of returns that they generated during the year ending June 22.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
New retirement schemes from MFs offer Section 80C benefit but locks in your money for five years
There are many questions investors are asking their financial advisors at the moment.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
Tax planning should not be left for March. If you do so, you could face a severe cash crunch in that month, warns Sanjay Kumar Singh.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
Rediff reader Tushar Kulkarni, 40 from Dombivali shared some valuable tips.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Correcting markets makes this a great time to buy an ELSS. Here are 7 schemes across the risk spectrum.
Here's a list of top 10 tax saving mutual funds that would have helped your investments grow by more than 50 per cent in just about a year's time.
Goals like buying a car or travelling abroad are short-term goals whereas purchasing a house or retirement planning are medium and long-term goals.
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
Taxpayers can claim a deduction on tuition fees for a maximum of two children.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
About 24 fund houses saw a decline in their debt AUMs in the past one year.
When you conduct a tax-planning exercise, ensure that you look beyond just the returns while selecting a tax-saving fund.
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