WebApr 9, 2024 · ELSS funds have a three-year lock-in term and invest primarily in equity or equity-related securities. Equity Linked Savings Scheme, commonly known as ELSS, is a type of mutual fund that enables ... WebELSS funds are popularly known as tax saving mutual funds because you can avail an annual tax deduction on investments up to Rs. 1.5 lakh under Section 80C of the Income Tax Act. The other prominent advantage of ELSS funds is they come with a lock-in period of just three years.
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WebDec 9, 2024 · Under Section 80C. Health insurance premium – Avail tax benefit under Section 80 D Having health insurance coverage through an individual plan or Family Floater is a must for all members of the ... WebApr 6, 2024 · Updated: 06 Apr 2024, 07:25 PM IST Vipul Das. In accordance with Section 80C of the Income Tax Act, NPS Tier 1 accounts are eligible for a deduction of up to ₹ 1.5 lakh from taxable income and ... black panther abstract art
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WebEquity Linked Savings Scheme (ELSS) is diversified equity mutual fund schemes which enjoy tax benefits under Section 80C of The Income Tax Act 1961. ELSS Mutual Funds are also known as Tax Saver Funds as investors can claim deduction of up to Rs 150,000 in a financial year from their taxable income by investing in these schemes. WebELSS is a type of Mutual Fund which allows you to claim for income tax deduction. You can save up to ₹ 1.5 lakhs a year in taxes by investing in ELSS, which is covered under … Web11 hours ago · Equity Linked Saving Schemes (ELSS): Investment made in ELSS mutual funds is eligible for deduction under section 80C. 4. National Savings Certificate (NSC): Investment in NSC is eligible for deduction under section 80C. ... Under section 80C of the Income Tax Act, 1961, an individual can claim a deduction on the principal repayment … black panther action figure toy