In order to encourage such investment culture, the Govt. of India in the year 1992 introduced the Equity Linked Savings Scheme (ELSS) mutual funds. Investments into the scheme qualify for tax benefit. The tax benefit comes with certain regulatory provisions. These regulatory provisions make the ...
Section 80C of Income tax act permits this deduction, there are other classes of investments also under this section, namely LIC Premium, PPF,etc , If you have investment in other products e.g. You are regularly paying LIC premium then your investment in ELSS will be exempt to a reduced ...
Investment in these schemes can help the investor preserve and appreciate his wealth over the course of a few years. ELSS funds come with a compulsory lock-in period of three years, which is the shortest when it comes to 80C options. This lock-in period encourages investors to adopt a ...
Lock-in period: It comes with a minimum lock-in period of 3 years. Equity exposure: It invests at least 80% of the investment in equities. Tax saving: Investments in ELSS are eligible for tax deduction under section 80C, upto Rs 1.5 lakh. Market-linked returns: It offers you market-lin...
Under an ELSS mutual fund scheme, you can claim a tax deduction of ₹1,50,000 under Section 80C of the Income Tax Act. This is the only type of mutual fund which entitles such a benefit. You have the potential of earning higher returns over a longer investment horizon. ...
Learn about ELSS Mutual Funds, a tax-saving investment option in India. Understand how ELSS funds work and their benefits for long-term wealth creation.
Under the Income Tax Act Section 80C, investment in ELSS mutual funds and PPF (Public Provident Fund) give you a full tax deduction up to Rs 1.5 lakh every financial year. Under Section 80C, you cannot claim a deduction of more than Rs 1.5 lac when investing in ELSS or/and PPF and/or...
If you have invested in this fund via ET Money, just login into the app, go to the investment section and put the redemption request. If you have invested in Tata ELSS Tax Saver Fund from anywhere else, you can go to the fund house website and put a request through it. What is ...
Other insurance schemes shall be avoided and the money should be invested in some other options which fetch you good returns.ELSS on the other hand is pure savings scheme with investment in mutual funds which are safest at present. It will not only get you deduction under section 80C but ...
thetax-saver ELSS fundsare one of the popular ones. It has the potential for generating high returns in addition to allowing the investors to complete their tax-saving quota of Rs 1.5 lakh under Section 80C. But when it comes to investing in ELSS funds, the question of whether to go for...