Mutual Fund SIP: How Can You Save Tax Through SIP? - DateUpdateGo

Mutual Fund SIP: How Can You Save Tax Through SIP?

Invest in ELSS

SIPs in equity-linked savings schemes (ELS) are eligible for tax benefits under Section 80A of the Income Tax Act.

Tax Deduction

You can claim a debit of up to Rs 1.5 lakh per year under Section 80C for investing in ELSS.

Lock-in Period

ELSS funds have a mandatory lock-in period of 3 years, which ensures long-term investment and discipline.

Tax-Free Returns

Long-term capital gains (LTCG) up to Rs 1 lakh from ELSS investments are tax-free.

SIP for Regular Savings

SIP allows you to invest small sums regularly, making it easier to reach the ₹1.5 lakh mark while saving taxes.

Potential for High Returns

ELSS funds offer higher growth potential and boost your investment and save tax.

Quant Mutual Fund: How can you start a SIP in this fund?