The SBI Long Term Equity Fund, formerly known as the SBI Magnum Taxgain Scheme, is an Equity Linked Savings Scheme (ELSS) offered by India’s largest fund house. With a history of 32 years, this tax-saving fund is one of the oldest of its kind in India, featuring a 3-year lock-in period and tax benefits for … Read more
As March 2025 approaches, significant financial deadlines demand the attention of investors and taxpayers alike. Among these, the Employees’ Provident Fund Organisation (EPFO) has granted an extension for activating the Universal Account Number (UAN) and seeding Aadhaar with bank accounts until 15th March 2025. This extension, crucial for accessing benefits under the Employee-Linked Incentive (ELI) … Read more
An Equity-Linked Savings Scheme (ELSS) is a type of mutual fund that provides tax benefits under Section 80C of the Income Tax Act, 1961. By investing in ELSS, individuals can avail tax deductions of up to Rs 1.5 lakh annually. ELSS mutual funds have the potential to generate higher returns compared to other Section 80C … Read more