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National Pension System: 7 strategic insights for tax-efficient retirement saving

The National Pension System (NPS) is crucial for tax-saving and retirement planning for the middle class. Insights include focusing on tax benefits, avoiding Tier II Account, and utilizing available tax deductions effectively.

Mutual Funds: 6 ELSS schemes gave over 18% annualised returns in the past 10 years

Mutual Funds: 6 ELSS schemes gave over 18% annualised returns in the past 10 years
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mutual fund news: From lakhpati to crorepati: 3 mutual fund schemes that turned Rs 1 lakh to over Rs 1 crore in 3 decades

Tax saving: Five tips to get the best from your ELSS Mutual Fund

Your money in an ELSS is locked in for three years, even if you invest in excess of Rs 1.5 lakh. But mind the lock-in when you put your money through SIPs. Each SIP instalment gets locked in for three years.

Has the new income-tax regime killed tax-saving mutual funds? Not yet, but…

Budget 2023 made the new income tax regime the default regime. Since this regime doesn’t give Section 80C benefits, ELSS, or tax-saving mutual funds, have lost their tax-benefit edge. Aside from taxpayers who would still opt for the old tax regime, it remains to be seen if ELSS funds can sell themselves purely on performance.

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