How do you do KYC on ELSS?

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How do you do KYC on ELSS?

Complete KYC Online: You could complete the KYC online by visiting the website of a mutual fund house or KRA (KYC Registration Agency). You may consider filling up your details in the KYC form. You would be asked to upload self-attested copies of identity and address proof along with a passport size photograph.

How do I submit proof to ELSS?

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.

Can I redeem mutual fund without KYC?

According to SEBI’s guidelines, from March 1, 2020, no one will be able to invest, redeem or execute any financial transaction and make non-financial request, unless the investor is KYC compliant with valid PAN attached.

How do you get KYC done?

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How to Do KYC Offline?

  1. Download and fill the KYC form.
  2. Mention your Aadhaar/PAN details.
  3. Visit a KRA office and submit the application.
  4. Attach the proof of identity and proof of address with the application.
  5. You may have to submit your biometrics as well in some cases.

How do I get my ELSS receipt?

To get your ELSS investments statement, log in to Coin and follow the instructions below. Click on Mutual funds from the dropdown menu. Click on ‘ELSS statement’ and select the Financial year.

Is SIP the best way to invest in ELSS funds?

Retail investors in ELSS Funds as well as those who invest in ELSS Funds for the very first time are likely to find the SIP mode of transaction to be the most beneficial.

What is SIP and how does it work?

SIP is a quick method of investing money online, by which money from the bank account of the investor shall get debited on a regular basis and which shall then be credited to an ELSS Funds scheme.

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What are supporting documents for ELSS funds?

Supporting documents have to be provided by the policyholder to claim deductions. What are ELSS Funds? ELSS or Equity Linked Savings Scheme is a type of diversified equity mutual fund that is qualified for tax exemption under Section 80C of the Income Tax Act.

How to claim tax benefits on mutual funds (ELSS)?

How to Claim Tax Benefits on Mutual Funds (ELSS) ELSS funds qualify for tax exemptions under Section 80C of the Income Tax Act. Deductions of up to Rs.1.5 lakh can be availed on the amount invested on ELSS funds. Supporting documents have to be provided by the policyholder to claim deductions.