What type of fund is ELSS?
equity funds
What is ELSS Fund? ELSS funds are equity funds that invest a major portion of their corpus into equity or equity-related instruments. ELSS funds are also called tax saving schemes since they offer tax exemption of up to Rs. 150,000 from your annual taxable income under Section 80C of the Income Tax Act.
Is ELSS a sip?
ELSS is an investment vehicle in itself while SIP is not, it is instead a way of investing not only in ELSS but also in any other mutual fund.
What is difference between ELSS and mutual fund?
An ELSS is also a mutual fund that offers tax deductions of up to Rs 1,50,000 a year under Section 80C of the Income Tax Act, 1961. The only difference between an ELSS and other mutual funds is that the later doesn’t offer tax benefits.
Do ELSS funds give better returns than PPF?
So where PPF returns average around 8\%, tax saving ELSS mutual funds have the potential to deliver a much superior return – a 12\% to 15\% average returns is possible, but not guaranteed. And the top best ELSS funds have given much better returns than these average returns.
What are the steps to invest in ELSS in details?
Select investment approach There are three choices available to ELSS investors. a.
What is public provident fund or PPF and ELSS?
Equity Linked Savings Scheme (ELSS) and Public Provident Fund (PPF) are two such schemes that generate high returns and also offer income tax benefits. Both these plans are ideal for those looking to maximise their savings through wealth appreciation and create a disciplined savings habit.
Which are the best diversified mutual funds?
Best diversified mutual funds 2020 Kotak standard multi-cap fund. Before investing in any such diversified mutual funds it is very important to know about its history. Edelweiss Multicap fund – Direct plan. Over the last 3 years, this fund has shown a very effective return. Canara Robeco Equity diversified fund 0-direct plan. The Equity Fund. Retirement investing.