Which is the best tax saver mutual fund in India?
Which is the best tax saver mutual fund in India?
List of Top Tax Saving Mutual Funds in India Ranked by Last 5 Year Returns
- Quant Tax Plan. EQUITY ELSS.
- Mirae Asset Tax Saver Fund.
- Canara Robeco Equity Tax Saver Fund.
- DSP Tax Saver Fund.
- Kotak Tax Saver Fund.
- ICICI Prudential Long Term Equity Fund (Tax Saving)
- Tata India Tax Savings Fund.
- UTI Long Term Equity Fund.
Which MF is good for tax saving?
Top 10 Tax Saving Mutual Funds in India
| Funds | 1-Year Returns (%) | 3-Year Returns |
|---|---|---|
| IDFC Tax Advantage (ELSS) Fund Growth | 23.1 | 11.7 |
| Tata India Tax Savings Fund Growth | 14.6 | 12.3 |
| L Tax Advantage Fund Growth | 16.2 | 13 |
| Aditya Birla Sun Life Tax Relief 96 Fund Growth | 19.3 | 12.1 |
Which mutual fund is tax free?
Dividends paid by equity mutual funds are tax free in the hands of the investor but the AMC pays dividend distribution tax (DDT) at the rate of 11.648%. Tax on debt mutual funds – The minimum holding period for short term capital gains in debt funds is 3 years.
Is SBI Mutual Fund tax Free?
Long term capital gains of up to Rs. 1 lakh a year from ELSS mutual funds are exempt from income tax and long-term capital gains above Rs. 1 lakh are taxed at 10%.
Which mutual funds are tax free?
Long term capital gains upto Rs 1 Lakh is totally tax free. Dividends paid by equity mutual funds are tax free in the hands of the investor but the AMC pays dividend distribution tax (DDT) at the rate of 11.648%.
What happens if I don’t withdraw ELSS after 3 years?
If you have made your ELSS Mutual Fund investment via the lump sum route, i.e., at one go, all your units will be allotted on the same day. And therefore, once the 3 year lock-in period is over, you can redeem your entire ELSS investment in one go.
Is NPS tax-free?
Employees contributing to NPS are eligible for following tax benefits on their own contribution: a) Tax deduction up to 10% of salary (Basic + DA) under section 80 CCD(1) within the overall ceiling of Rs. 1.50 lakh under Sec 80 CCE.
Is all mutual funds give tax benefits?
No, all mutual funds do not qualify for tax deductions under Section 80C of the income tax Act, Only investments in equity-linked saving schemes or ELSSs qualify for tax deduction under section 80C. Investors can invest in ELSSs and claim tax deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
How do I withdraw ELSS after 3 years?
Due to this mandatory lock-in of 3 years, you can only redeem your ELSS investments either partially or in full after the completion of the lock-in period. If you have made your ELSS Mutual Fund investment via the lump sum route, i.e., at one go, all your units will be allotted on the same day.
