Which tax saving mutual fund is best?
Table of Contents
Which tax saving mutual fund is best?
The table below shows the top-performing ELSS mutual funds based on the past five year returns:
| Mutual fund | 5 Yr. Returns | 3 Yr. Returns |
|---|---|---|
| BOI AXA Tax Advantage Fund Regular Growth | 20.95\% | 29.79\% |
| Mirae Asset Tax Saver Fund – Direct Plan – Growth | 23.55\% | 27.37\% |
| Canara Robeco Equity Tax Saver Fund – Direct Plan – Growth | 21.61\% | 27.11\% |
Is PPF good for tax saving?
PPF is one investment vehicle that falls under the Exempt-Exempt-Exempt (EEE) category. This, in other words, means that all deposits made in the PPF are deductible under Section 80C of the Income Tax Act. Furthermore, the accumulated amount and interest is also exempt from tax at the time of withdrawal.
How do mutual funds save tax on returns?
How to manage LTCG tax on Equity Funds
- Ensure a complete understanding of the equity fund scheme before making an investment decision.
- Avoid frequent buying and selling of units of the equity fund.
- Select only those equity funds that have a track record of performance for an extended period (at least five years).
How much tax can be saved from PPF?
PPF accounts also have a maximum deposit limit of Rs. 1.5 lakhs per year, therefore, all deposits made to your PPF account can be claimed as deductions u/s 80C. Section 80C allows for a maximum deduction of Rs. 1.5 lakhs per year inclusive of all investment instruments.
How can I get PPF interest in income tax return?
So you must disclose interest from savings account, PPF and MIS in the ITR. Interest income from savings account in post office and MIS is supposed to be reported in ‘Schedule OS’ whereas interest from PPF (being exempt) is to be disclosed as ‘other exempt income’ in Schedule EI of the relevant ITR form.