Paragraph match score 80.5%
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Tax Benefits on Mutual Funds SIP
Tax Deductions Under Section 80C: SIP investments in ELSS qualify for tax deductions up to ₹1.5 lakh per annum under Section 80C if you opt for the old tax regime, reducing taxable income and enabling tax savings.
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Are There Any Tax Benefits of Investing in SIP?
SIP in Tax Saving Funds: Investment in mutual funds like equity-linked savings schemes (ELSS) is eligible for deduction under Section 123 (previously called 80C).. Additionally, premiums paid towards ULIPs, including the payment through SIP mode, qualify for tax benefits under Section 123 (previously called 80C).