Elss (Tax Saver)
Elss (Tax Saver)
Investing in ELSS (Equity Linked Savings Scheme) is a smart way to save tax while growing your wealth. ELSS funds not only offer tax benefits under Section 80C but also have the potential for high returns over the long term. Discover how you can make the most of your investments with ELSS (Tax Saver) options tailored for Indian shoppers.
Key Highlights
- Tax Benefits: Enjoy deductions up to ₹1.5 lakh under Section 80C.
- Short Lock-in Period: ELSS comes with a lock-in period of just 3 years.
- Diverse Investment Options: Choose from various funds based on your risk appetite.
- Potential for High Returns: Invest in equities for capital appreciation over time.
- Systematic Investment Plans (SIPs): Start investing with small amounts regularly.
- Professional Management: Funds are managed by experienced fund managers.
- Flexibility: Switch between funds or redeem your investments post lock-in.
Buying Tips
- Assess Your Risk Profile: Understand your risk tolerance before choosing a fund.
- Check Fund Performance: Review historical performance and fund ratings.
- Consider SIPs: Opt for SIPs for disciplined and affordable investing.
- Read the Fine Print: Understand the fund's objectives and fees before investing.
- Monitor Regularly: Keep track of your investments and adjust as needed.
FAQs
Question: What is the minimum investment required for ELSS?
Answer: Most ELSS funds allow a minimum investment of ₹500 for SIPs and ₹5,000 for lump sum investments.
Question: Can I withdraw my investment before the lock-in period?
Answer: No, ELSS has a mandatory lock-in period of 3 years during which you cannot withdraw your investment.
Question: Are there any tax implications on ELSS returns?
Answer: Gains up to ₹1 lakh are tax-free, while gains above this limit are subject to long-term capital gains tax at 10%.
Start your journey towards smart tax-saving investments today with ELSS (Tax Saver) options that suit your financial goals. Explore our range and make informed choices!