save your taxes

4 key reasons to choose an ELSS funds.

Tax Benefit:One of the primary reasons to invest in ELSS is to save tax. Investments in ELSS qualify for tax deduction under section 80C of the income tax act of 1961. You can invest into ELSS and deduct upto Rs. 1,50,000 from your taxable income to effectively reduce your tax liability.

Lock in Period:In ELSS fund you are obligated to stay invested for 3 years or more to exempt from taxes applicable on returns. This forcefully embeds a good habit to stay invested for a longer period. Whereas the lock in period in PPF & NSC is 15 years & 5years.

Inculcate saving habit:ELSS schemes allow you to invest systematically with as low as Rs. 500 per month. Your savings turn into your investments. This nurtures a habit of continuous investing

Opportunity to invest in equity while saving: ELSS also allows you the benefits of equity mutual fund schemes to ride the growth cycle of stocks in your ELSS portfolio. In the rising economy like India, a good portfolio with quality stocks may reap higher returns.

To know more about how to save taxes Click Here

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