Save your taxes by investing in ELSS - Tax Saving Mutual Fund Scheme & plan for your long-term investment goals. Click here for details: [ Ссылка ]
What are the benefits of ELSS? Is it different from other mutual fund schemes?
ELSS is like any other open-ended equity fund. It’s just that it has a lock-in period of 3 years, which means you can’t redeem the investment before 3 years from the allotment date.
Money is invested in equities which holds the potential to create wealth over a period of time. With ELSS, you can plan long-term financial goals such as your retirement, children’s education, and their marriage, or anything, with ease. Also, you can save up to Rs. 46,800 in taxes!
Are the returns on ELSS taxable?
ELSS has a lock-in period of three years. Meaning, you will not be able to redeem your units before the completion of three years. Post redemption, you will have access to long-term capital gains (LTCG) up to Rs 1 lakh, which are tax-free. LTCG over Rs 1 lakh is taxable at the rate of 10% without the benefit of indexation.
How do I invest in SIP or Lump Sum?
The answer is either. For example, if you want to invest 1.5 lakhs in ELSS, you can either do so in one go or else do a SIP of Rs.12,500 per month to avail tax benefit during a particular financial year.
A SIP is a hassle-free way to invest your money in equity mutual funds. The minimum investment amount in ELSS, for SIP or Lumpsum, is just Rs. 500
Visit axismf.com to learn more about ELSS and the other money-saving mutual funds!
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