What is FATCA & Why do you need it?
FATCA (short for Foreign Account Tax Compliance Act) is a regulation created by the US Government to curb tax evasion by US citizens. Under this regulation, assets held by US citizens in other countries now have to be reported to...
Is there any lock-in period for Scripbox Tax Saver (ELSS funds)?
The funds which Scripbox Tax Saver invests in, have a lock-in period of 3 years (The lowest lock-in for any tax saving option) after which withdrawal is allowed.
Is there any lock-in period for ELSS/Tax-Saving funds?
Yes. ELSS funds have a lock-in period of 3 years (The lowest lock-in for any tax saving option) after which you can withdraw the money paying a 10% Long term capital gains tax, for gains exceeding Rs.1 Lakh
How does Scripbox Tax Saver (ELSS funds) compare with other 80c Tax Saving instruments?
Scripbox Tax Saver has the lowest lock-in-period, highest historic growth rate & you can start with the investment amount with as low as Rs 500. InvestmentLock-In PeriodHistorical Growth RateIs Return Taxable?Scripbox Tax Saver3 Years12-14%*Taxable (only on returns > 1 lakh...
What is the ideal time frame for investing in Scripbox Tax Saver?
Scripbox Tax Saver invests in ELSS funds which have a lock-in period of 3 years, during this withdrawal is not allowed. Although one can withdraw after the 3rd year, ELSS funds should be treated as a long-term investment as it...
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How much of tax can I save with Scripbox Tax Saver?
Scripbox Tax Saver invests in ELSS funds. ELSS investments are eligible for tax benefits under section 80C of the Indian Income Tax Act. Under this section, one can invest a maximum of Rs. 1.5 lakhs. Assuming one fall under the...
Why should I invest in ELSS/Tax-Saving funds?
There are a number of benefits of investing in ELSS funds. Starts at just Rs. 500 -you can start investing in ELSS funds at a low starting amount of just Rs.500. Tax saving - ELSS funds qualify for tax saving. Investments in ELSS funds...
How to claim the tax benefits offered by Scripbox Tax Saver?
In order to claim the tax benefits, you will be provided with a tax investment certificate that can be downloaded from your Scripbox dashboard.Steps to download the statement: Login to Scripbox accountClick on More (if on app), Account Statements (if on...