Tax Saving on WebNotes

How to download a PPFAS ELSS Section 80C tax-proof certificate

Sun, 17 May 2026 00:00:00 +0000

If you’ve been running an ELSS SIP on the Parag Parikh ELSS Tax Saver Fund and you file under the old tax regime, the Section 80C Investment Proof Certificate is the document HR asks for during the January-February investment-declaration window each year. It lists every ELSS installment allotted on or before 31 March of the relevant FY, with dates, amounts, and folio numbers. ELSS is the only 80C-eligible scheme in the PPFAS lineup; subscriptions allotted on or before 31 March qualify for Section 80C deduction up to Rs 1.5 lakh per FY. Under the new tax regime (default since FY 2023-24), 80C does not apply, and this certificate has no purpose for you.

How to start an SIP in Parag Parikh ELSS Tax Saver Fund

Sun, 17 May 2026 00:00:00 +0000

An SIP in the Parag Parikh ELSS Tax Saver Fund is procedurally similar to a PPFCF SIP ; the differences sit in the tax treatment and the lock-in. ELSS subscriptions under the old tax regime are eligible for Section 80C deduction up to Rs 1.5 lakh per financial year. The lock-in is three years, applied per installment: each monthly debit creates its own three-year clock from its allotment date. The December 2026 installment, for instance, is locked until December 2029; the January 2027 installment until January 2030. The SIP series as a whole has no terminal lock-in. The other consequential rule is the 31 March cut-off: only installments allotted on or before that date count for Section 80C in that FY, so SIP dates in the last week of March carry timing risk.

ELSS mutual fund

Tue, 12 May 2026 00:00:00 +0000

An Equity Linked Savings Scheme (ELSS) is a category of open-ended equity mutual fund in India that qualifies for a deduction under Section 80C of the Income Tax Act, 1961, allowing investors to claim a deduction of up to ₹1.5 lakh per financial year from their gross total income, subject to conditions. ELSS funds are the only equity mutual fund category in India that offers a tax deduction on the invested amount. They carry a mandatory lock-in period of three years from the date of each investment unit, which is the shortest lock-in period among all Section 80C instruments.

Section 80C deduction for ELSS

Tue, 12 May 2026 00:00:00 +0000

Equity-Linked Savings Scheme (ELSS) is a category of open-ended equity mutual fund regulated by the Securities and Exchange Board of India (SEBI) under the SEBI (Mutual Funds) Regulations 1996. It is the only mutual fund category that qualifies for a tax deduction under Section 80C of the Income Tax Act 1961. An investor may claim a deduction of up to Rs 1,50,000 per financial year on investments in ELSS, subject to the overall Section 80C ceiling. ELSS units carry a statutory lock-in period of three years from the date of allotment of each unit. Upon redemption after the lock-in, any capital gains are long-term capital gains (LTCG) taxed under Section 112A at 12.5% on gains exceeding Rs 1,25,000 per financial year (rates as revised by the Finance Act 2024, effective 23 July 2024).