How do I submit ELSS proof?
Investment Proof: You can get investment proof for mutual fund investments by getting your statements from your distributor. Alternatively you can get a consolidated email statement for all your mutual fund investments, including your ELSS funds emailed to your inbox.
How do I start investing in ELSS?
How to invest in ELSS?
- Step 1: Determine your Tax slab and taxable income. It’s really important that you have a clear idea about your taxable income and tax slab.
- Step 2: Pick the best ELSS. Let’s know how to pick best ELSS funds.
- Step 3: Invest in ELSS online.
- Step 4: SIP or Lumpsum.
- Step 5: Redemption of ELSS:
Should you invest in ELSS funds for tax planning?
Being the only type of mutual fund which invests in the equity market and offers tax benefits, many investors look at ELSS funds only for tax planning purposes. If saving tax is your sole purpose, then there are several options available under Section 80C of the Income Tax Act.
When is the best time to invest in ELSS?
Investments in ELSS can be made at any time during the year. Most often, however, ELSS investments see a spike in popularity just before the tax filing season, as Indians scramble to reduce their tax liability by any means possible. Tax saving mutual funds get very popular around this time.
Should you invest in ELSS funds in India?
You must look at the scheme’s performance over the past decade in addition to the factors mentioned below before investing in ELSS Funds in India: Being the only type of mutual fund which invests in the equity market and offers tax benefits, many investors look at ELSS funds only for tax planning purposes.
What is the return on investment made in ELSS?
The return on investment made in ELSS total depends on the performance of the market. ELSS offer tax free gains, very high liquidity and very low charges everything about ELSS is transparency. It may come with a lock in period of barely 3 years, post which one can withdraw or displace the amount according to their wish.