Saturday, July 18, 2015

Filing IT Returns on Fund Investments

 

Not mandatory to file income tax return for investing in a mutual fund if you don't cross the minimum limit

 

It is not mandatory to file income tax return for investing in a mutual fund. You will be required to file a return only if your annual income crosses the minimum threshold limit ofR2,50,000. The income is based on your total earnings from five sources:

  1. Income from salary.
  2. Income from House Property.
  3. Income from Profits and Gains of Business or Profession.
  4. Income from Capital Gains (this would include any gains from selling a mutual fund).
  5. Income from other Sources

Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

Invest in Tax Saver Mutual Funds Online -

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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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