NPS
Last year's budget made the NPS more attractive as a tax-saving tool by offer ing an additional tax deduction of `50,000. Also, pension fund managers have been allowed to invest in a larger basket of stocks and no longer have to invest passively by mirroring the index. Active investments in stocks will help generate better returns for investors. Even so, concerns remain about the cap on equity exposure. For a young investor, the 50% ceiling may be too conservative an allocation. Besides, the taxability of the NPS on maturity is a sore point. At least 40% of the corpus must be put in an annuity. Right now, the income from annuities is taxed at the normal rate, though the government is considering tax exemption for annuity income.
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
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
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