Budget 2021: What is Section 80C and 80D? Here s all you need to know
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As the Finance Ministry, led by Finance Minsiter Nirmala Sitharaman, is all set to present the Budget, the experts expect the Income Tax rates to be reduced.
While tax can be saved in various ways through investments, insurance or spending, not all of them are eligible for tax deductions. However, there are a bunch of sections under which you can save tax. While Section 80C and 80D are most popular to reduce your tax liability, one must also look at other sections of the Income Tax act to avail benefits of tax deduction.
Synopsis
Mutual funds should be perceived as a longer-term investment vehicle at par with comparable investment avenues like gold and real estate with the investment horizon for 7 to 10 years especially the equity funds.
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Investing in Mutual funds can make a significant contribution when it comes to the development of the Indian Economy. We believe the development of the capital markets enhances the four pillars of the financial system: efficiency, stability, transparency, and inclusion. Mutual fund industry has been at the forefront of this growth. The Mutual Fund industry is still under-penetrated with a few impediments thwarting its growth, we need to address these hurdles which could help deepen investments in Mutual Funds and hence drive growth in capital markets. Mutual funds should be perceived as a longer-term investment vehicle at par with comparable investment avenues like gold and real estate with the investment horizon for 7 to 10 years especially the equit
Read more about Tax parity with ULIPs tops Afmi s wish list ahead of Union Budget on Business Standard. Amfi has reiterated its long-standing demand of bringing parity in tax treatment between MFs and unit-linked insurance plans (ULIPs), both of which are investment products and invest in securities