INSUBCONTINENT EXCLUSIVE:
Equity-Linked Savings Scheme: ELSS mutual funds come with a lock-in period of three yearsAn equity-linked savings scheme or ELSS is one of
the most popular mutual fund categories that offer tax benefits
Under provisions of Section 80C of the Income Tax Act, 1961, one is eligible for claiming tax deductions of up to Rs 1.5 lakh in taxes by
investing in equity-linked saving scheme
ELSS mutual funds come with a lock-in period of just three years, which is far lesser, compared to the other tax-saving instruments
According to stocks and mutual fund investment platform Groww, apart from offering tax-saving benefits, ELSS is a diversified equity mutual
fund and also serves the purpose of long-term capital growth
investment options in recent times.ELSS funds are also considered to be sustainable as people can plan for their futures while saving on
deposits (FD) or public provident funds (PPF), ELSS mutual funds stand out as its returns are generally higher, especially when markets are
is the preferred mode to invest, investors are also opting for the SIP route to invest in ELSS funds especially in the 25-40 years age group
It is important to note that ELSS is like any other equity fund and investing periodically helps one cultivate financial discipline and reap
Firstly, determine your tax slab and taxable income
Secondly, in order to undergo a proper KYC verification, make sure you have a recent photo, your PAN card with correct details, and a valid
top tax saving funds chosen by investors are as follows:Axis Long Term Equity Direct Plan GrowthMirae Asset Tax Saver Fund Direct
GrowthAditya Birla Sun Life Tax Relief 96 Direct GrowthCanara Robeco Equity Tax Saver Direct GrowthTata India Tax Savings Fund Direct Growth
