Which tax benefit scheme is specifically mentioned for certain equity mutual funds? Option: Section 80C of the Income Tax Act, Section 80G of the Income Tax Act, Section 80TTA of the Income Tax Act, Section 80D of the Income Tax Act

<< Back

Hi

Show Ans

i

Which tax benefit scheme is specifically mentioned for certain equity mutual funds?

Section 80C of the Income Tax Act

Section 80G of the Income Tax Act

Section 80TTA of the Income Tax Act

Section 80D of the Income Tax Act

<< Back

Hi

Show Ans

i

Which equity fund offers tax benefits under Section 80C of the Income Tax Act, 1961?

"Thematic Funds"

"ELSS Funds"

"Focused Equity Funds"

"Sectoral Funds"

<< Back

Hi

Show Ans

i

Which type of mutual fund offers tax advantages under Section 80C of the Income Tax Act in India?

Growth funds

Income funds

Equity Linked Saving Scheme (ELSS)

Capital preservation funds

<< Back

Hi

Show Ans

i

Under which section of the Income Tax Act can investors claim tax benefits for investments in ELSS?

Section 80C

Section 80E

Section 80D

Section 80G

<< Back

Hi

Show Ans

i

Which of the following statements is true regarding the tax benefits of ELSS?

Returns on ELSS investments are tax-free.

ELSS offers tax deductions under Section 80C of the Income Tax Act.

Long-term capital gains (LTCG) from ELSS are tax-free.

Both A and C

<< Back

Hi

Show Ans

i

What tax benefit does ELSS offer to investors?

"Exemption under Section 80C of the Income Tax Act"

"Tax exemption only on dividends"

"Complete tax exemption on returns"

"No tax benefits are associated with ELSS"