Table of Contents
Is there any ELSS index fund in India?
There are no ELSS funds based on index. However, you can find schemes based on major index like ICICI Prudential Nifty Index Fund (Nifty) or HDFC Index Fund – Sensex Plan (BSE Sensex).
Do index funds come under ELSS?
ELSS and Index funds are very much different from each other on various parameters especially ELSS funds qualify for income deduction of up to 1.5 Lakh per annum u/s 80C of the Income Tax Act but come with a mandatory lock-in period of three years.
Is there any tax saving index fund?
ELSS mutual funds are also referred to as the tax-saving mutual funds. The provisions of Section 80C of the Income Tax Act, 1961, allows you to claim tax deductions of up to Rs 1,50,000. ELSS is the best investment option under this Section.
How can I buy index fund in India?
How to Invest in Index Funds
- Sign in to cleartax.in.
- Enter the details regarding the amount of investment and period of investment.
- Get your e-KYC done in less than 5 minutes.
- Invest in your favourite index fund from amongst the hand-picked mutual funds.
Which is best index fund in India?
The following table shows the best index funds in India, based on the past 10-year returns:
| Mutual fund | 5 Yr. Returns | 3 Yr. Returns |
|---|---|---|
| Mahindra Manulife Multi Cap Badhat Yojana Regular Plan Growth | — | 29.5\% |
| SBI Contra Fund – Direct Plan – Growth | 18.25\% | 26.05\% |
| Baroda Multi Cap Fund Plan A Growth | 16.67\% | 25.47\% |
| SBI Contra Fund | 17.48\% | 25.28\% |
Is UTI Nifty Index fund ELSS?
UTI LTEF is an Equity Linked Saving Scheme (ELSS) providing dual benefits of sound returns potential by investing in equity securities and also savings on taxes. The fund provides for portfolio diversification through its investment approach of investing across the market capitalization spectrum.
Is Tata Ethical fund ELSS?
The Tata India Tax Savings Fund is an open-ended equity linked tax saving scheme (ELSS) with a compulsory lock-in period of three years. The fund has a 3-year lock in period that helps the fund management in taking a long term view and lends stability to performance.
How to invest in ELSS funds in India?
How to Invest in ELSS Funds in India. 1 #1. Direct Investment Through Fund Houses. You can invest in ELSS funds directly from AMC or Fund House’s website. If you are confident of investing 2 #2. Using your Demat Account. 3 #3. Online MF Investment Platform. 4 #4. Through Your Agent. 5 #5. Through Registrars.
Are there any ELSS MidCap & small cap index funds in India?
Yes there are ELSS midcap & small cap index funds available in India. Few of the ELSS funds invested in midcap/smallcap companies are as follows: For more information/analysis you can visit popular websites such as valueresearch or moneycontrol.
What are the tax benefits of ELSS?
Tax Benefit of ELSS Funds Equity Linked Saving Scheme (ELSS) or a tax saving mutual fund scheme help you to save taxes under Section 80C of the Income Tax Act 1961. In ELSS funds, you are eligible for a tax deduction of up to Rs 1.5 lakh. But ELSS funds come under LTCG (Long Term Capital Gains).
What are ELSS mutual funds?
ELSS mutual funds are equity linked saving schemes which are eligible for tax deduction under section 80C of income tax act. You can invest in the ELSS funds and claim a deduction of up to 1.5 lakh under section 80C.