Reduce your tax burden and build wealth simultaneously with Shriram Mutual Funds.Start savings today!
Unlock the potential of tax savings through mutual fund investments. Let your money work harder for you while you enjoy the benefits of reduced tax liabilities. Start your investment journey towards a secure future.
What is Mutual Funds for Tax saving?
Mutual fund for Tax saving is an investment option that provide tax benefits under Section 80C of the Income Tax Act.Find out how much you can save using our tax saving calculator. tax saving calculator.
How can inflation affect your future?
At retirement ₹ 158.87
At retirement₹ 19,500
At retirement₹ 57,550
At retirement₹ 16,550
At retirement₹ 12,825
At retirement₹ 17,570
Benefits of Investing in Shriram Mutual Fund for Tax Saving
Mutual funds, particularly ELSS funds, offer tax-saving benefits. It provides the flexibility to switch between funds within the same fund house without worrying about capital gains tax, allowing you to rebalance your portfolio efficiently.
Unlike other investment products, mutual funds offer the ability to buy and sell shares at any time, providing a level of liquidity than can be important for those who need access to their investments.
Mutual funds invest in a diversified portfolio of stocks, bonds or other securities, helping to spread the risk and potentially offers better returns compared to other investment instruments.
Systematic Investment Plan (SIP)
SIPs within ELSS funds enables you to make periodic, small investment payments over time. This can prove particularly beneficial for employed individuals seeking a consistent approach to invest for tax benefits.
3-Year Lock-in Period
Compared to other tax-saving investment instruments, mutual funds (ELSS) have the least lock-in period of 3 years, making it a compelling choice.
Who should Invest in Shriram Mutual Funds for Tax Saving?
- High income taxpayers who want to claim tax deductions
- Individuals who wish to invest for the long term.
- Investors who are looking for higher returns on their investments.
- Investors who want to diversify their investment portfolio with equity investments.
How to Invest in Shriram Mutual Funds for Tax Saving?
Step 01Use our tax saving calculator to find out investment
Step 02Register and create a folio by completing KYC verification and bank account authentication.
Step 03Select the mutual fund you wish to invest in.
Step 04Choose SIP or lump sum and make the payment
Step 05Receive a confirmation of your investment.
Frequently Asked Questions
What are tax benefits?
Tax benefits refer to any reduction in taxes that an individual or a business can claim under income tax laws. These benefits can come in many forms, including tax deductions, tax credits, and tax exemptions.
Which mutual fund is best for Tax Benefit?
Mutual funds are one of the best tax saving options available in India. There are several mutual funds that offer tax benefits, commonly known as Equity Linked Saving Schemes (ELSS). ELSS mutual funds have a lock-in period of three years and offer tax deductions of up to INR Rs. 1.5 lakhs under Section 80C of the Income Tax Act. Choosing the best tax saving mutual fund will depend on various factors such as your investment goals, risk appetite, and investment horizon.
How do I claim tax benefits?
The maximum tax deduction you can claim through tax saving investment options such as ELSS is INR Rs. 1.5 lakhs. You can invest any amount up to this limit. Research and select an ELSS mutual fund that aligns with your investment goals and risk appetite. You can consider factors such as fund performance, historical returns, expense ratio, and the fund manager's track record.
What is the maximum tax deduction that can be claimed under Section 80 C?
The maximum tax saving that you can achieve through mutual funds is INR Rs. 1,10,00,00,000 under Section 80 C of income tax law. This means that you can save up to Rs. 46,800 in taxes if you invest the maximum permissible amount.
How do Mutual Funds for Tax Saving work?
Mutual funds for Tax saving accumulate money from multiple investors and invest primarily in equities or equity-related instruments, such as stocks and equity derivatives.
Is mutual Funds for tax saving risky?
Mutual Funds for Tax Saving are subject to market risks and may be volatile in the short term.
Can I redeem my investment before the end of the lock-in period?
No, you cannot redeem your investment before the end of the lock-in period, which is three years. However, after the lock-in period, you can redeem your units at any time.