Paytm Money Mutual Funds App: You can save Income Tax by means ELSS SIP schemes - Start from Rs 500

Paytm Money has now come up with a number of solutions for taxpayers, helping them in saving time on income taxes. Now Paytm is offering several optimized solutions to individuals for saving income tax. The time to pay your taxes has arrived and most taxpayers would be busy calculating their taxes and claims which can be made during Income Tax Return (ITR) filing. While the government does take taxes from your income and income from other sources, it also gives the benefit to reduce those taxes by filing a few forms and claim a certain sum on loans or investment. Every salaried individual has to pay taxes on the salary they receive from their employer. 

At Paytm Money, users can discover several ELSS (Equity Linked Savings Scheme) mutual funds from 38 leading AMCs (Asset Management Companies) in India at multiple discovery points. 

There are specially curated Investment Packs consisting of 4 ELSS mutual funds, starting at a minimum investment amount of Rs 2,000. Such is ideal for users who wish to diversify their tax saving led investments portfolio.

 ELSS schemes start at a minimum of Rs. 500 with simplified payments through 190+ banks via UPI, Netbanking, Debit Card and AutoPay.

What will happen is while investing in Paytm’s ELSS option, investors can invest up to Rs. 150,000 and save up to Rs. 46,800 annually as per Section 80C, Income Tax Act, 1961 with Tax Saver Investment Packs either via lump sum option or via SIPs. 

Alternatively, investors can also access ELSS funds other than the ones that are part of the Tax Saver Investment Pack.

Not only this, but Paytm Money also provides free-of-cost instant ELSS tax statements, which can be requested directly from the Paytm Money app. 

Upon submitting the request, the statement is sent as a pdf document to the user’s registered email address. This statement also serves as an investment proof that users can submit to their employer for income tax computation purpose.

Currently, Paytm Money has crossed over 1 Million users mark to become the largest platform for mutual fund investments in India offering commission-free investing in direct Mutual Funds.