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Which is the best investment under 80C Quora?
The best investment option under section 80C is ELSS that is Equity Linked Savings Scheme. It is having the least lock-in period compared to all other options, best returns disregard to tax treatment. Delivered best returns compared to FDs, EPF, PPF, NSC, and NPS etc.
Which SIP is best for tax free under 80C?
Best Performing SIP Funds to Invest in Equity Linked Saving Scheme (ELSS) FY 21 – 22
- BOI AXA Tax Advantage Fund.
- Canara Robeco Equity Tax Saver.
- Mirae Asset Tax Saver Fund.
Is NPS deduction comes under 80C?
The two types of NPS Accounts you should know of Contributions made towards Tier 1 are tax deductible and qualify for deductions under Section 80CCD(1) and Section 80CCD(1B). This means you can invest up to Rs. 2 lakh in an NPS Tier 1 account and claim a deduction for the full amount, i.e. Rs.
How can I invest to save tax on Quora?
Some of the top tax-free investment options are:
- Sukanya Samriddhi Account.
- Public Provident Fund (PPF)
- Senior Citizens Saving Scheme.
- National Pension Scheme (NPS)
- Employee’s Provident Fund (EPF)
What comes under 80C Quora?
Investment which helps you to save income Tax in under section 80C.
- Provident fund and Public provident funds.
- Life insurance like LIC , Max Life etc.
- National saving certificate.
- Mutual Fund ELSS Scheme.
- Stamp Duty And Registration.
- Principal amount paid for Home Loan.
- Fixed deposit in Bank or Post Office.
The tax benefits provided on the payment of LIC premium comes under section 80C of Income Tax Act, 1961.
What are the best tax-saving investments under Section 80C of it?
Such investments include ELSS (Equity Linked Saving Scheme), Fixed Deposits, Life Insurance, Public Provident Fund, National Savings Scheme and Bonds. There are a very few investment avenues that provide a further tax deduction, over and above this limit. Let’s take a look at the best tax-saving investments under section 80C of IT Act.
What are the different types of saving instruments available under Section 80C?
There are multiple saving instruments available in the market which can be claimed for tax saving purpose under section 80C including PPF, ELSS, ULIP, NPS etc. However, such saving investment schemes vary from each other in terms of risk and reward, tax treatment, cost, ease of investment and transparency.
Should you invest in ELSS funds under Section 80C?
ELSS has emerged as one of the most popular avenues of investment for tax purposes under section 80C due to the impressive returns. So a tax rebate in addition to good returns seems a good deal to investors. ElSS funds invest at least 80\% of the corpus in equity which means the returns are not assured…
What is Section 80C of income tax in India?
Section 80C is one of the most important tax saving options in India. The taxpayer has to make some investments which the Government has listed under this section and then, that amount gets deducted from the taxable income of the person.