Section 80C ELSS mutual fund: Investment in ELSS mutual funds are eligible for tax benefit under Section 80C in the old tax regime. However, for ELSS mutual fund investment to be eligible for tax break for current financial year 2023-24, the investment must be done between April 1, 2023 and March 31, 2024.
Many mutual funds do not allow you to increase your SIP amount in between the SIPs. In that case, if you plan to increase your investment from next year say by a fixed amount or a fixed percentage then Step up SIP is the option to increase your investments every year.
The scheme which was launched on October 29, 1996 is benchmarked against Nifty Smallcap 250 - TRI and has given returns at an XIRR of 35% while at a CAGR of 40% during this period.
Asset management companies (AMCs) are allowed to charge Total Expense Ratio (TER) for managing mutual fund schemes, covering various expenses like management fees and legal fees.
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There are a number of schemes which have invested up to 4-5 percent of their portfolio in Paytm stock. These schemes will soon start reflecting impact of Paytm stock in their net asset value.