Is SIP Exempted From Tax..?

Only investments in Equity Linked Savings Schemes (ELSSs) or tax saving mutual fund schemes qualify for a tax deduction under Section 80C of the Income Tax Act. Unfortunately, none of your Systematic Investment Plans (SIPs) are in ELSSs. A Systematic Investment Plan or SIP is a mode for investing money in mutual funds. … ELSS (Equity Linked Savings Scheme) is a type of diversified equity…