ELSS ( Tax saving funds)

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sivsankar yadalam asked 8 years ago

Under 80C I have already invested Rs.1.5 lac for the financial year 2017-18 in Reliance tax saving fund (equity oriented). I expected a return of 12% on my investment. I am assured of the same and found that my expectation is reached. In this connection what I would like to know is that whether there is provision to invest more than what is allowed under 80 C. since returns appear to be satisfactory in this ELSS.

3 Answers

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Sreekanth Staff answered 8 years ago

Hi, There is no maximum limit that can be invested in Equity funds/ ELSS tax saving funds. However, investment of only up to Rs 1.5 lakh can be claimed as tax deduction u.s 80c. Related articles : https://www.relakhs.com/tax-saving-investment-options-us-80c/ https://www.relakhs.com/income-tax-exemptions-fy-2017-18-list/

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Ashish Shrivastava answered 8 years ago

Dear Sir,

I am investing in following mutual fund through NJ client for tax saving purpose.

1) Kotak Tax Saver - 4500/month
2) Reliance Tax saver - 3500/month
3) Motilal oswal long term tax - 3500/month Could you please let me know if selection of fund is good or it needs to change ?

Thanks & Regards
Ashish Shrivastava

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Sreekanth Staff answered 8 years ago

Dear Ashish, Suggest you to kindly post this as a new question (new thread). The blog reader (Sivsankar ji) who has posted the original question will receive the email alerts of our Q&As. So, let's not post inconvenience to him. Thank you!