Investments in MFs, SIPs, ULIPs etc., attract income tax exemption under Sec 80 C apart from other investments like NSC, LIC, PF, PPF, Housing loan interest etc., upto Rs 15,0000/- per financial year . But in case of MFs the lock in period will apply. Even Rs 500/- p.m under SIP can be made to achieve medium and long term goals like Marriage, education ets. of Children and the ultimate returns will be better than Bank and other investments. One can choose sector wise like I.T., Pharma or index based funds. Also debt, or equity or Hybrid funds for better returns which in the past has been around 12- 14 % p.a.
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