Want to Save Income Tax? Best ELSS Tax Saver Mutual Fund wIth Calculator For Tax Exemption

Mutual fund is one of the tax saving way to get benefit under Equity-linked savings schemes (ELSS), 2005 Section 80C of the Income Tax Act, 1961. tax exemption regulation of Goverment of India and make income taxfree. Now we can understand mutualfund.

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list of best tax saver mutual fund calculator in India


What is mutual fund?

A mutual fund is a type of financial vehicle which can be operated by money manager or fundmager.

Money manager or fund manger employs people with various expertise ranging from economic research and selection of investment options to monitoring the assets and deciding when buy and sell them.

This employs can made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets.


Type of mutual fund?

First type on time preiod, Short term (less than 1 year) and Long term (more than 1 year),

Second type on invest in securities, e.g. government bonds, treasury bills, bankers’ acceptances, BSE, NSE, Reliance Share, Infosys share, other mutualfund etc...

what are tax saver mutual funds? How to save Tax by mutual fund?

Tax saver mutualfund are those fund which are registered with sebi and fall From April 1, 2018 of Goverment of India section 80C of the Income Tax Act, 1961.

in finacial year (1 april to 31 march) short term (up to 1 year) and 3 year locking preiod you can save ₹1.5 lakh with multiple selection.

you must save monthly or yearly statement that got in registered email id or contact your mutualfund agent. you just upload this statement in incometax form.



All Mutualfund is taxsaver?

No,

All mutualfund is not taxsaving but those mutualfund which is fall in Equity-Linked Savings Scheme (ELSS) are tax saver mutualfund.



Whats is multiple selection in MF?

in multiple selection you can devide amount of invest more than one mutualfund.
Example. ₹ 100000 in Axix Mutualfund and ₹ 50,000 in other mutualfund.

mutual fund Tax saver calculator for FY 2020-21

Tax Saver Mutual Fund Calculator [Old Scheme only] for resident individuals below 60 years of age



Note: save tax in mutualfund invest upto ₹ 150000

Note:Tax saving on 1 year without locking preiod OR 3 year with locking preiod mf investment





Tax Saver Mutual Fund Calculator [Old Scheme only] for Resident individuals 60 to 80 years of age for FY 2020-21



Note: save tax in mutualfund invest upto ₹ 150000

Note:Tax saving on 1 year without locking preiod OR 3 year with locking preiod mf investment





can i withdraw tax saver mutual fund

If you investment in mutualfund for 1 year without locking preiod then you can easily withdrawal your money as you nee

If you investment in mutualfund for 1 year with locking preiod then you cannot withdrawal your money without completing your 3 years from your invest But, you can withdraw as per mutualfund guideline with some extracharges.



Is Mutul fund profit is taxable?

Yes,

But you must pay income tax if profit form mutual fund is more than 1 lakh in a finacial year in which finacial year you withdrawal from mutualfund.

which is best tax saver mutual fund in india?

Any mutualfund is best depends upon following type

  1. Rating:
  2. mutualfund rating various agencies (None of goverment of India agencies) give the Mutual Fund ratings on analytic reaserch. CRISIL, ICRA, MorningStar, ValueResearch, etc. are some of the credible rating agencies. Mutual Fund ratings evaluate on analyrtic reaserch on Mutual Fund scheme on various parameters – quantitative and qualitative.

  3. Return:
  4. All mutualfund return is differant and you can also check differant mutualfund return in rating agencies.

  5. Withdrawal Time:
  6. if you invest in mutualfund and you withdraw your need money than withdrawal time as soon as possible so, check withdrawal time in mutual fund

  7. Charges:
  8. Mutualfund charge Entry load (on your investment), Exit Load (when you withdrawal), Trasaction fee and other charges like.. opening demate account, maintanance charge, brokarage charge. All mutualfund total charges is different, some mutualfund charges is 10% and some mutual fund charges is 5% with same return or same rating check there mutualfund site or contact.



Below some best tax saver mutual fund in india

Mutualfund return on there manager or fundmanger investment future. some critical time this return is suddenly down. Example, DHFL issue in 2019 market goes down and march 2020, corona virus imapct.



top 10 tax saver (ELSS) mutual fund 2019

Fund Name 1Y Return Rating
BOI AXA Tax Advantage Fund 21.9% 5
Canara Robeco Equity Tax Saver 13.1% 5
Mirae Asset Tax Saver Fund 8.3% 5
Axis Long Term Equity Fund 4.2% 5
Quant Tax Plan Fund 23.2% 4
Invesco India Tax Plan 9.1% 4
Taurus Taxshield 7.7% 4
Aditya Birla Sun Life Tax Relief 96 7.0% 4
DSP Tax Saver Fund 3.9% 4
JM Tax Gain Fund 2.5% 4


Note:Above Best Mutualfund list by author so donot mind number given. This is best list public on August 6, 2020 day.



If you have some confusion in ELSS Tax Saver Mutual Fund wIth Calculator For Tax Exemption then comment us we can reply you as soon as possible. If you like this post please share on social media.



Want to Save Income Tax? Best Tax Saver Mutual Fund wIth Calculator

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