Table of Contents
How do I save tax on Etmoney?
2. Section 80C
- Equity Linked Savings Scheme: Equity Linked Savings Schemes are a type of mutual funds with a lock-in period of three years.
- Senior Citizen Savings Scheme:
- National Pension System:
- Term Life insurance premium:
- Public Provident Fund:
- National Savings Certificates:
- Tax-saving FDs:
- Home loan repayment:
Is it good to invest in mutual funds through ET money app?
Yes, ETMoney is absolutely safe for mutual fund investment. ETMoney is a registered mutual fund distributor from AMFI & follow all security and regulatory guidelines as laid out by the AMFI & SEBI .
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).
Is it safe to invest in Etmoney app?
As a financial technology app, it guarantees highest level of security of financial data and transactions. Here are a few reasons to help you understand why ETMONEY is one of the safest financial apps in the market today: Highest rated and reviewed Mutual Fund app on Android Play Store and Apple App Store.
Which is the best tax saving investment?
Investment options under Sec 80C
Investment | Returns | Lock-in Period |
---|---|---|
Public Provident Fund (PPF) | 7\% to 8\% | 15 years |
National Savings Certificate | 7\% to 8\% | 5 years |
National Pension System (NPS) | 12\% to 14\% | Till Retirement |
ELSS Funds | 15\% to 18\% | 3 years |
How can I save tax on 2020 21?
Here’s a list of popular investment options to save tax under section 80C.
- Public Provident Fund.
- National Pension Scheme.
- Premium Paid for Life Insurance policy.
- National Savings Certificate.
- Equity Linked Savings Scheme.
- Home loan’s principal amount.
- Fixed deposit for a duration of five years.
- Sukanya Samariddhi account.
Which one is better ETMONEY or Groww?
The bottom line. Both Groww and ETMONEY are free apps and offer a great way for users to invest their capital and to grow their wealth. While the Groww app may be suited for beginners in this space, the ETMONEY app overall does offer a lot more additional features and adds more value when compared to Groww.
Does all mutual fund save tax?
Mutual funds, also known as Equity Linked Savings Scheme (ELSS), are great tax-saving instruments under Section 80C of the Income Tax Act, 1961. This section allows you to claim benefits from your taxable income if you put your money into certain investments.