Gen­er­ally Speak­ing

Consumer Voice - - Bfsi -

ELSS is one of the pop­u­lar tax-sav­ing op­tions for savvy in­vestors – it is not only a diver­si­fied eq­uity mu­tual fund with a ma­jor­ity of the cor­pus in­vested in eq­ui­ties, it also has a lock-in pe­riod of three years from the date of in­vest­ment. The re­turns from in­vest­ment in an ELSS are based on schemes in the eq­uity mar­kets and these re­turns are tax-free.

Look­ing at the pre­vi­ous years’ re­turns, some of these funds have grown as much as three times in five years. Also, there is no limit on in­vest­ment in ELSS funds, and you can claim tax de­duc­tion on up to Rs 150,000 un­der Sec­tion 80C of In­come Tax Act.

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