How to Save Income Tax in FY 2023-24? The income tax act provides tax deductions to tax payers for various investments, savings and expenditures in a particular financial year. Lets read some of the schemes which can help save taxes.
With proper tax planning you can save on your taxes and increase your income. Read how to save tax in India, what are the best tax saving options available on b4investing.
How to save tax investing in mutual fund? What is ELSS (Equity Linked Savings Scheme)? ELSS is the only kind of mutual funds which fall under tax saving options under the provisions of Section 80C of the Income Tax.
Public Provident Fund (PPF) and Equity linked saving schemes (ELSS) fall under Income Tax section 80C tax saving options. b4investing is helping you to understand all basic differences of PPF and ELSS.
Equity mutual funds basically are ones which primarily invests in stocks. He basically invests in a basket of stocks and can get benefit of the bunch of stocks and diversify his investment rather than buying a single individual stock and having a concentrated approach. These equity funds invest directly into stocks and give highest rate of return but the risk involved is also higher.