HOW TO SAVE TAXES WITH MUTUAL FUND INVESTMENTS THIS YEAR
TAXING TIMES
Are taxes taking a big bite out of your money? Mutual funds can help!
INVEST IN ELSS
Invest in Equity-Linked Savings Schemes and claim
deductions of up to Rs. 1.5 lakh under Section 80C
of the old regime of the Income Tax Act, 1961.
MORE STRATEGIES
Also, when investing in other equity schemes, be sure to hold units for at least one year.
THINK LONG TERM
That’s because long term capital gains of up to Rs. 1.25 lakh are tax free. Thereon, the tax rate is 12.5%.
AVOID SHORT TERM
In contrast, the short-term capital gains tax is 20%, with no exemptions.
PRO TIP
Plan your tax-saving investments throughout the
year. Avoid the last-minute rush and invest calmly!