Aanand Jha (Employed) (792 Points)
28 April 2016The amount invested in Equity Linked Savings Schemes is eligible for exemption from Income Tax under Section 80C of Income Tax Act. These schemes generally have a lock in period of three years.
The dividend income received on mutual funds is exempt from income tax in the hands of the investor.
Prasobhkumar R.
(Chief Operating Officer)
(67 Points)
Replied 28 April 2016
Yes. Then is there any query
Mayra
(Tax Planner)
(23 Points)
Replied 08 June 2016
For tax saving it's important to plan investments smartly. Big Decisions is one of the leading portal providing Tax Planning Calculator. So, that you can plan your taxes easily and smartly.
Divakar
(Accountant)
(21 Points)
Replied 20 June 2016
According to the information shared, we have to go for Mutual Funds for tax saving? And, if we buy mutual funds instead for Insurance policy we will be exempted from the tax. Please share some details regarding the same topic
Mayra
(Tax Planner)
(23 Points)
Replied 22 June 2016
If you invest in Mutual funds, it’s managed by professionals. Professionals do research and then provide information accordingly. Its best option for small investors because mutual funds allow one to invest lesser amount
CAclubindia
