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How ELSS can help you in tax saving

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How ELSS can help you in tax saving

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  1. How ELSS can help you in tax saving and fund your retirement

  2. Introduction • ELSS tax saving option is something that most of us start thinking about just before we need to start filing our returns.ELSS tax saving fundsare a great way to not only benefit from the equity market, but also ensure that you save on taxes.

  3. Now, mutual funds have made it easier for you to invest in ELSS funds through SIP. However, you will need to bear in mind that each monthly ELSS investment through SIP will have a 3-year lock-in period, which will start from the date you make the SIP investment. • Here are some of the major advantages of investing in ELSS for funding your retirement:

  4. Benefit from equity markets as well as tax savings • One of the biggest benefits of ELSS is that you will not only gain from the equity market exposure, but will also ensure that you save on your taxes under section 80C. Hence, do not just think of ELSS as a tax saving option only. It will also help you ingatheragoodretirement corpus while saving your taxes.

  5. ELSS offers growth and dividend options • As an investor, you can think of growth and dividend options for investing in ELSS funds. Growth option allows you to get a lump-sum amount upon completion of your3-year lock-in period while dividend option helps you in getting dividendson every occasion where the fund announces itright during the lock-in period.

  6. Low lock-in period compared with other instrument • ELSS just has a 3-year lock-in period, which is much lower compared with other tax savings instruments under 80C such as PPF (15 years), NSC (6 years), tax-savings FD (5 years). Hence, compared with other tax savings instruments, ELSS provides higher liquidity to investors.

  7. Higherreturns that are tax-free • Given the equity exposure, ELSS provides investors with higher returns owing to the market edge. Moreover, the returns from ELSS are tax-free.

  8. ELSS opens the equity investment options • For all those investors who are not great believers in the equity markets or have never invested in the equity markets, ELSS is a good way to start your journey. In fact, as individual investors, we often tend to make wrong selling or buying decisions when there is asmall rise or fall in the markets.Given a lock-in period of 3 years,ELSS will keep your investments tied up.

  9. If you want to know more about top ELSS schemes, give us a call on 022 28584545.

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