The 80C income tax section has many options and is thus crowded. With ELSS, it is easier to meet the required quantity of Rs 1.5 lakh for tax benefit in a financial year
Updated Mar 16, 2021 | 11:54 IST
The last date for making tax-saving investments for the financial year 2020-21 is March 31. This is your last chance to maximise tax benefits under various sections NPS vs ULIP vs ELSS vs others: Tax saving instruments available under section 80C | Photo Credit: BCCL
New Delhi: You have heard enough mention of it, especially around this time of the year, ie. the tax-saving season. Section 80C is perhaps the most frequently used route for saving income tax. A number of deductions are available u/s 80C. Such deductions can be claimed only if the taxpayer decides to go for the old or existing personal income tax regime in a specific financial year.
Synopsis
It is that time of the year when many mutual fund investors start investing to save taxes.
It is that time of the year when many mutual fund investors start investing to save taxes. Equity Linked Saving Schemes (ELSS) are among the most used instruments for the tax saving purpose. Generally, we see a lot of rush into these schemes at this time of the year. Even though a lot of investors use SIPs to stagger their investments throughout the financial years, there are many others who do it all at the last minute. This article is for the