3 Things to know while investing in ELSS Equity-linked savings scheme (ELSS) is a designated scheme under mutual fund (MF) schemes that qualify for deduction under Section 80C of the Income-tax Act. The act outlines the various parameters under which tax benefits accrue to the investor. ...
ELSS funds:ELSS is a tax-saving investment scheme that has a lock-in period of 3 years. By investing in ELSS, you can claim a deduction of up to Rs 150000 a year. Unit Linked Insurance Plan (ULIP):ULIP is an integrated scheme offering investment and life insurance. Investment up to ...
Investments in tax saving FDs qualify for tax exemption under Section 80C of the Income Tax Act, 1961. However, investments in all other FDs do not qualify for a tax deduction. The interest income is taxable as per individual investor’s income tax slab rates. Moreover, the interest income...
Asset Class Investing: Investing in mutual funds based on its eight asset classes - equity funds, debt funds, money market funds, balanced funds, fund of funds, sector funds, index funds, and ELSS tax-saving funds. Periodic Overview: Mutual funds are always vulnerable to market risks, which ...
Can I claim a tax rebate if I start a SIP in ELSS? If the lock-in period is 3 years, can I redeem the entire amount invested in the first year after the lock-in period or will every month's SIP be locked for 3 years?
What is ELSS ...? An ELSS is an Equity Linked Savings Scheme, that allows an individual or HUF a deduction from total income of up to Rs. 1.5 lacs under Sec 80C of Income Tax Act 1961. Investing better than savings In order to accumulate large sums to meet one’s financial goals, ...
ELSS funds:ELSS is a tax-saving investment scheme that has a lock-in period of 3 years. By investing in ELSS, you can claim a deduction of up to Rs 150000 a year. Unit Linked Insurance Plan (ULIP):ULIP is an integrated scheme offering investment and life insurance. Investment up to ...