How much should we invest in ELSS?
If you want, you can invest up to Rs. 1.5 lakhs per fiscal year in an ELSS scheme and bring down your gross taxable income. As per Section 80C of the Indian Income Tax Act, 1961, investments made in tax saving instruments like ELSS are eligible for a tax deduction.
Is investing in ELSS a good idea?
Conclusion. ELSS funds are a good option for investors with a long-term investment horizon looking to seek exposure to the stock markets and save taxes. There are various ELSS funds available.
Can I invest more than 1.5 lakhs in ELSS?
However, you can invest more than this designated amount, but the excess over Rs 1.5 lakh will not qualify you to avail the tax benefits as per the provisions of Section 80C. The returns generated from ELSS are taxable with the dividend distribution tax (DDT) and taxes on Capital Gains (LTCG).
How to choose the best ELSS fund?
Determine Your Tax Slab&Your Taxable Income. The foremost step of investing in ELSS is analysing your tax slab and the taxable Income so that you can utilise
Should your ELSS investment be a lumpsum?
However, since ELSSs are also a tax-saving investment and they come with a mandatory lock-in period, investors have started believing that it is okay to invest a lumpsum in ELSSs. It is strictly okay to invest a lumpsum in them, provided you have a long investment horizon of seven to 10 years.
Should I invest in PPF or ELSS?
People wanting to keep their money safe and gain a steady return should probably invest in PPF. People with low risk-taking capacity should invest in PPF, whereas aggressive investors should like to invest in ELSS. However, PPF gives out high returns at low risk, so it has an advantage in this regard.
What is the best mutual fund?
Top Fidelity Funds
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