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Monday, December 1, 2014

What is the Tax Saving advantage of ELSS Mutual Funds?

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What is the tax saving advantage of mutual funds?

A significant amount of your earning is usually eaten away by taxes. To ensure you keep more of what you make, tax planning becomes imperative. Which means, you need to invest your money in places that help you save taxes and even better – earn something out of them.

While there are many tax saving instruments available in the market, you have to be wise while selecting one. Just keeping your money in PPF or NSC to claim tax-break would yield moderate returns. If you want to make your money work harder and earn higher returns, then mutual funds can be a great place to invest.

This is where Equity Linked Savings Schemes (ELSS) come into the picture. With a 3-year lock-in period, they have the potential to earn higher returns than most tax-saving options and reduces your taxable income by Rs. 1,50,000.



 

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D. Small and MicroCap Funds Invest Online

      1. DSP BlackRock MicroCap Fund
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E. Sector Funds Invest Online

      1. Reliance Banking Fund
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F. Tax Saver Mutual Funds Invest Online

1. ICICI Prudential Tax Plan

2. HDFC Taxsaver

      1. DSP BlackRock Tax Saver Fund
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G. Gold Mutual Funds Invest Online

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H. International funds Invest Online

1. Birla Sun Life International Equity Plan A

2. DSP BlackRock US Flexible Equity

3. FT India Feeder Franklin US Opportunities

4. ICICI Prudential US Bluechip Equity

5. Motilal Oswal MOSt Shares NASDAQ-100 ETF

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