What are ELSS funds? Here are 4 benefits of investing in ELSS via SIPs?
Posted by swarali chavan on April 21st, 2019
Mutual funds investment offers different options to the investors, depending on their needs. You can choose between equity, debt, and hybrid funds. Each of these types has a sub-type. One of the most popular sub-type of equity funds is ELSS funds.
What is ELSS funds? It is a fund that invests 80 per cent of its assets in equity and equity-related instruments. ELSS funds hold a lock-in period of 3 years. They also qualify for tax deduction up to INR 1.5 lakh under section 80C of Income Tax Act, 1961. Besides, the returns from ELSS funds are subject to long-term capital gains tax at 10 per cent. However, long term capital gains up to INR 1 lakh are exempted from taxes.
How do ELSS funds scores over other tax saving instruments?
What are the benefits of SIPs in ELSS funds?
About the Authorswarali chavan
Joined: April 21st, 2019
Articles Posted: 10
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