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ELSS 80C
what is ELSS under deduction 80c
Replies (12)
ELSS fund (Equity Linked Savings Scheme), i.e., a mutual fund scheme, where tax deduction of up to Rs. 1.5 lakh (per financial year) under Section 80C
sir ELSS and SIP are same thing or different
because SIP is a type of mutual fund
WE CAN SAY , ELSS IS A PART OF SIP AS . . .
Only investments in Equity Linked Savings Schemes (ELSSs) or tax saving mutual fund schemes qualify for a tax deduction under Section 80C of the Income Tax Act. ... Investments in ELSS qualify for a tax deduction of up to R1.5 lakh under Section80C.
ELSS is equity linked savings scheme. It's one of the offering from mutual fund arena.ELSS allows for investment via SIP mode. The minimum lock in period for each investment is 3yrs.ELSS provides tax savings on the amount invested.The redemption amount will be tax free in as the minimum holding period is three year.
Deduction under 80C can be claimed for ELSS invested amount, subject to maximum deduction of Rs.150000 under sec 80C.
Deduction under 80C can be claimed for ELSS invested amount, subject to maximum deduction of Rs.150000 under sec 80C.
suppose if the ppf amount for the fy is 100000 then only 50000 of ELSS can be claimed under section 80C
m I wrong or ryt sir
Yes, overall deduction is 1,50,000 .
so if investment of 100000 is already made , remaining investments of 50,000 can only be done to claim deduction u/s 80C
AGREED !!
thanks alot sir
Any other way to claim beyond 1.5 lac limit
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