Investors are now more aware of the advantages of mutual funds for tax saving, in fact the best tax saving investments online are available in a number of mutual fund schemes. We will discuss here the different online investment options available to investors for the purpose of tax saving. As most investors know, the systematic investment plan (SIP) is the most convenient and advantageous for long term planning.
Investors can find the best performing SIP schemes online on some good financial Portal RRFinance.in What are Tax Saving Mutual Funds They are mostly ELSS (Equity Linked Saving Schemes) funds that make investment in equities. Investors need to lock-in their investments for a period of three years to claim tax benefits under section 80C. Key features of ELSS Investors can avail a maximum deduction of Rs. 1.5 lakhs by investing in these funds during a financial year. You can save a maximum tax of upto Rs. 46,350 (if you fall in the highest income slab) per year. These funds have the least lock in period and a superior track record on returns. It has dual benefits of tax saving as well as wealth creation. Additionally, if investors choose ‘Dividend Payout’ option, they can receive dividend income even before maturity of the scheme. Best method to invest in ELSS is to use online SIP in mutual fund schemes on a monthly basis.
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