WebAug 5, 2024 · An individual having salaried income and income from capital gains is required to file ITR-2. (iStock) Mutual fund taxation differs on the basis of the type of mutual fund (equity- or debt ... WebDSP Tax Saver Fund is an Equity Linked Saving Scheme (ELSS) that helps you save tax up to Rs 46,800 while aiming to build wealth too, over time! Calculate how much tax you can save with ELSS Mutual fund Scheme. ... Long-Term Capital Gains (LTCG) tax is applicable on ELSS funds as the lock-in period is 3 years. Gains are taxed at 10% for gains ...
ELSS - Know What is ELSS, Its Meaning, Features & Benefits
WebApr 13, 2024 · The short-term capital gain tax rate for shares other than Section 111A is at the standard tax rate. For individuals, it is per the income tax slab rate of the individual. Short-term capital gain is not tax-free. Taxpayers with the lowest income will be liable to … WebOct 20, 2024 · What makes ELSS different from other equity mutual fund schemes is that investment upto ₹1.5 lakh in ELSS is eligible for deduction from taxable income in a financial year. The scheme comes with a statutory lock-in period of 3 years for each SIP. It is the only mutual fund scheme that qualifies for tax deduction under Section 80 (C) of the IT ... reflection\u0027s mz
Know How Your LTCG and Dividend Tax on ELSS are …
WebMar 5, 2024 · Tax on mutual funds Non-equity funds are treated as long-term capital assets if held for more than three years. Long-term capital gains tax is payable at 20 per cent with indexation benefit on the realised gains. Gains on investments in non-equity funds held for up to three years are added to income and taxed as per the applicable slab rate. WebApr 4, 2024 · You will no longer enjoy the long-term capital gains (LTCG) tax benefits and indexation benefits on debt mutual funds. 31 Mar, 2024, 06:13 PM IST. Ten Income Tax changes that will come into effect from April 1, 2024. 31 Mar, 2024, 05:50 PM IST. ... (ELSS). Apart from tax savings, ELSS allows investors to invest in India's growth and … WebFeb 16, 2024 · The capital gains tax rates range from 0% to 20% for long-term gains and 10% to 37% for short-term gains. Capital gains taxes only apply when you sell an … reflection\u0027s na