Someone help me understanding these ELSS funds
I was checking ELSS funds, it was mentioned we could save upto 1.5 lakhs a year from tax under section 80c if we opt for ELSS funds but again I read that we could only save 46,800 in a year.
I didn’t understand anything about these ELSS funds and section 80c. I’m new to this corporate world and have never filed ITRs. Please help me understand this.
No need of that in most cases pf takes the whole 1.5L amount
Not everybody has a good payslip like you. Our basic is penny of the package, hope you got what I mean.
Actually the thing is you understood it not correctly actually the limit for the elss is 1.5 lakh as elss comes under 80 C and you can take benefit upto investing 1.5L in 80C which consist of epf, ppf , tax saving fd , elss , life insurance etc. So when you invest 1.5L then your net income will be reduce by 1.5L so you will save tax of around 46800 which could be levied on ur 1.5L extra income
ELSS is scam
Invest 1.5l-pf -any insurance in less if you want.
Currently you should choose new regime if you are not paying house loan emi. Forget about any 80c benefits.
@TeluguCuler why are you not opting new regime
