Are you still wondering how to cut down on your tax burden? Make the best of the dual benefits of ELSS and invest early. The earlier you invest, the harder your money works for you, plus you can save tax up to Rs. 46,800/-*.
Why choose ELSS Mutual Funds?
Tax Saving Benefit: Investments in ELSS qualify for tax deduction under section 80C of the Income Tax Act of 1961. You can invest up to Rs 1.5 Lakh and save tax up to Rs 46,800/-*.
Lower Lock-in Period: ELSS has a lock-in period of 3 years which is the least among all the tax saving schemes available.
Long-Term Growth: ELSS always maintains a well-diversified portfolio of stocks which means you can benefit from long-term economic growth, which gives you higher returns in favorable market conditions.
Growth & IDCW: ELSS schemes generally comes with both Growth and IDCW (Income Distribution and Capital Withdrawal) options, from which you can choose one.
Financial Goal Planning: Due to its equity-based portfolio and long-term nature, ELSS schemes are preferred by investors for long-term goal planning.
READ: HOW TO SAVE AND MANAGE YOUR MONEY