You work hard through the year, yet compromise on your desires in the hope of saving a small portion of your income for the future; be it for your child's education, buying a bigger house or old age. But at the end of it all, you find that these hard earned savings have been reduced by income tax.
JPMorgan India Tax Advantage Fund offers a tax deduction to investors under Section 80C of the Income Tax Act, 1961. The Government offers tax incentives for investment in specified avenues, one of them being Equity Linked Savings Scheme (ELSS).
Category
ELSS (Equity Linked Savings Scheme)
Minimum application amount
Rs.500 per application and in multiples of Rs.500 thereafter
Lock - in period
3 years
Benchmark
BSE-200 Index
Plans & Options available
Growth & Dividend (payout & re-investment)
Facilities available
SIP (Systematic Investment Plan)
STP (Systematic Transfer Plan)*
SWP (Systematic Withdrawal Plan)*
Tax treatment
Dividends paid by the scheme to the unit holders shall not be liable to Income Tax
Long term capital gains on redemption of units shall not be liable to Income Tax
Amount of subscription shall be eligible for deduction under Section 80C upto an aggregate of Rs.100,000 along with other prescribed investments
(Please consult your tax advisor for specific tax implications before investing).
*After the lock-in of 3 years.
Mutual fund investments are subject to market risks. Please read the Scheme Information Document (SID) and Statement of Additional Information (SAI) carefully before investing.
