Investment in Top ELSS (Tax Saving/Equity Linked Saving Scheme) Mutual Funds

January 5, 2013 admin Deduction from Income, Investment, Mutual Fund, 0

Meaning of Equity Linked Saving Scheme or Tax Saving Mutual Fund: ELSS Mutual Fund (also known as Tax Saving Mutual Fund) means Mutual Fund Scheme investing in the stocks listed on the stock exchanges. Objective of ELSS Mutual Fund Scheme is to invest atleast 60% of their AUM in companies which are listed on recognized stock exchange in India. Check List of Best Performing Large Cap Mutual Fund Schemes for Investment in Mutual Fund

Investor get the benefit of Income Tax Deduction of Rs 100,000/- (Maximum Deduction) under section 80C of the Income Tax Act, 1961. But Redemption of units under the Scheme available only after a three year lock-in period from the date of allotment of units.

Investment made in the ELSS Mutual Fund scheme will qualify for a deduction from Gross Total Income upto Rs.100,000/- (along with other prescribed investments) under section 80 C of the Income Tax Act, 1961 to the eligible investors under the Income Tax Act, 1961. Generally ELSS scheme would be benchmarked against BSE 100. List of best tax saving mutual fund schemes based on AUM, last 1 Year Return and Last 3 Year return of these tax saving mutual fund scheme as on 1st April 2013. Check Your Mutual Fund KYC Status online Before Investing in Mutual Fund using your PAN Card

 

 

Mutual Fund Investment is subject to market risk, please read the offer documents before investing in mutual fund scheme.

Investment in Large Cap Mutual Fund Download Company Law Form I: Appointment of sole selling agents by the company