I am new to this whole industry.
I just opened a new account in zerodha today.
I am gonna read varsity to learn many more things.
But meanwhile, can someone be able to tell difference in funds shown in this screenshot ?
Both are largemidcap 250 index & then how one saves tax & other not ? (What about new taxing laws?)
2nd one is “ELSS”.
ELSS funds have exception in income tax act. You can subtract upto 1.5 lakhs under 80C.
You can invest more than that but you can only claim deduction of 1.5L. it’s combined with PPF, etc.
ELSS/tax saver funds have 3 year lock-in. Cannot withdraw for any reason whatsoever.
First fund is normal fund tracking same index. No lock in, no tax benefits.
@quicko is 80C ELSS deduction there in new tax regime?
Thanks for the explanation @tallerballer 
As far as I know, 80c ELSS deduction is not there in new regime ?
Correct me if I am wrong !
Yes seems like it’s only in old regime.
ELSS/PPF/NPS has 1.5 lakh
NPS on its own has 50k extra
Hey,
Yes, ELSS funds do offer tax benefits under section 80C. You can reduce your taxable income by up to â‚ą1.5L. However, no, this deduction is not allowed under the new tax regime.
