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Sunday, March 6, 2016

Section 80C Changes in Budget 2016

Invest and Save Tax Online
 
 
 To begin with, the finance minister hasn't proposed any changes to Section 80C of the Income Tax Act per se. The tax deduction available under the Section continues to be R1.5 lakh. However, there is a change in the tax treatment of withdrawal of accumulated corpus EPF. Now, you will be able to withdraw only 40 per cent of the corpus tax-free from EPF. Please note that the new rule is applicable only to corpus created with contributions from April 1. The corpus created before this date can be withdrawn entirely without any tax liability. You can avoid paying taxes if you use the remaining 60 per cent of the corpus to buy an annuity.
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Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds

Top 10 Tax Saving Mutual Funds to invest in India for 2016

Best 10 ELSS Mutual Funds in india for 2016

1. BNP Paribas Long Term Equity Fund

2. Axis Tax Saver Fund

3. Franklin India TaxShield

4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

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