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All about ELSS Funds

According to the latest budget announcement for FY (2018-19) , Long Term Capital Gains is taxed @ 10% for equity mutual funds with grandfathering clause with the date set as 31st January 2018. The holding period for the same is 365 days. Upto 1 Lakh LTCG is exempted on equity funds. For Debt Funds, No benefit has been provided according to the current income tax law and the income has to be added according to the income tax slab..

For equity funds, it’s 15% and for debt funds, its according to the tax slab of the person claiming the same. The holding period is 3 years for debt funds and 1 year for equity funds.

Maturity Benefits are tax free according to the current income tax law.

   
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