Some retail investors like to reinvest their money in Equity Linked Saving Schemes (ELSS) every three years to claim tax benefits under Section 80C.
The best way to save taxes is to invest in ELSS. Here are a few pointers that you need to keep in mind when you are shopping for an ELSS to invest.
Many new investors are investing more than Rs 1.5 lakh a year in Equity Linked Savings Schemes (ELSSs) these days.
An ELSS is a mutual fund scheme that qualifies for tax deduction under Section 80C of the income Tax Act while NPS allows to claim tax deduction under Section 80CCD(1).
Many investors in tax saving mutual funds or Equity Linked Saving Schemes get confused about their SIP investments and claiming tax deductions on them.
Many investors are choosing the dividend option while investing in ELSSs during the tax-saving season this year, say mutual fund advisors.
Tax-saving season is here. ELSS or tax planning mutual funds are one of the best way to save taxes under Section 80C of the Income Tax Act.
ELSS actively invests in the equity markets, with a potential to earn higher returns than traditional savings options like PPF.
All tax-saving investments that qualify for tax deductions under Section 80C come with a mandatory lock-in period. The lock-in period is three years for ELSSs.
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