Need your expertise in knowing few things.
This is my tax simplified statement.
1) According to point 14 I need to invest Rs.15,750 to be tax free?
2) If I do above, then I will receive 1,777 as my tax return?
3) I was looking at best performing mutual fund in moneycontrol (http://www.moneycontrol.com/mutual-funds/performance-tracker/returns/elss.html). So, If I invest in either ELSS or RGESS I can save tax?
4) Also, all the mutual funds in the above mentioned site are close-ended?
5) from the same link above if i invest in lets say Largecap or midcap/small cap can i still save tax?
6) what exactly are ELSS/RGESS? as far as i have read its like equity + debt kind of like hybrid funds?
Thank You :-)