With Financial Year coming to an end, it is time you start planning for your Tax Saving immediately. You can save up to Rs. 45000/- in Tax alone based on the Tax Slab you are in. Keep in mind: Money Saved is Money Earned.
ELSS is a mutual fund scheme which provides deduction/tax benefit under Section 80C of the Income Tax Act, up to Rs.1,50,000 per annum. There is no upper limit to investing in ELSS.
ELSS invests in diversified equity funds. Returns from ELSS are market linked which aims at providing capital appreciation over 3 year period.
It is the best available scheme which offers higher returns combined with tax benefits for a lock-in period of just 3 years. It comes with least lock-in period when compared to Tax Saving Fixed Deposits or Public Provident Fund.
Both Individuals and HUFs can invest in ELSS.
Investment under the scheme can be continued even after 3 years.
Even though the risk involved in investing in ELSS is higher than Bank Fixed Deposit or Company Fixed Deposit or Public Provident Fund, the returns have always been much higher ranging from 12% to 18%
Investment can be made either in a lump sum or through a Systematic Investment Plan (SIP).
If the investment is made through SIP, each investment/instalment should complete 3 years before it can be redeemed.
ELSS is an ideal scheme for long term wealth creation.
Invest in ELSS with VRIDHI:
We at VRIDHI analyse all Mutual Fund schemes on a continuous basis to help our investors choose the right schemes. We also have regular intereactions with the Mutual Fund company officials and Fund Managers and express our opinions and concerns which may affect the investors.
When you invest with VRIDHI, you can leave the tracking job to us and focus on your own work.
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