How do I invest in ELSS steps?

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How do I invest in ELSS steps?

How to invest in ELSS?

  1. Steps to Invest in ELSS.
  2. Step 1: Determine your Tax slab and taxable income.
  3. Step 2: Pick the best ELSS.
  4. Step 3: Invest in ELSS online.
  5. Step 4: SIP or Lumpsum.
  6. Step 5: Redemption of ELSS:

What is best way to invest in ELSS funds?

All mutual funds allow you to invest in two ways; lump sum or systematic investment plan (SIP). Most investors prefer taking the SIP route since they can stagger their investment over a period. You can invest a small sum on a regular basis via an SIP.

How do I start investing in ELSS Quora?

  1. Invest in growth options (and not dividend options).
  2. Select funds according to your risk profile. Not ELSS funds are suitable for all investors.
  3. ELSS funds generally have a lock-in period of 3 years.
  4. Do not invest a lump sum amount.
  5. Diversify your portfolio.

How is tax calculated on ELSS?

The long-term capital gains of up to Rs 1,00,000 a year are tax-free, and any gains above this limit attract a long-term capital gains tax at the rate of 10\% plus applicable cess and surcharge. Any dividends received from your ELSS investments are added to your overall income and taxed at your income tax slab rate.

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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

  • Pick A Best ELSS Fund. The most important part of investing in ELSS is choosing the best ELSS fund as per your needs.
  • Choose Your Intermediary.
  • SIP Investment Or Lumpsum Investment.

    • 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.

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    What is the best mutual fund?

    Top Fidelity Funds

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  • Top Rated Large Cap Funds
  • Top Rated Value Funds
  • Top Equity Only Funds