WebNov 9, 2024 · ELSS Meaning - An ELSS is an Equity Linked Savings Scheme which is a tax saving mutual fund where one can save upto Rs. 1.5 lakh in a financial year under … WebFrom my research here on this sub-reddit and sites such as Subramoney and Freefincal, it looks like ELSS will be the way to go to save taxes under 80(c). Axis Long Term Equity Fund - 50,000 INR . Franklin India Taxshield Fund - 50,000 INR . Both are large cap funds and seem to be performing well. Considering this scenario, I have a few questions
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WebEquity Linked Savings Scheme (ELSS) is a kind of mutual fund scheme that invests in equity and equity-related instruments. ELSS comes with a lock-in of 3 years and provides a tax benefit up to 1.5 lakhs in a year under section 80C of the Income Tax Act. Investments in ELSS can be made through lump-sum payments or SIP. WebHere are some of the benefits of investing in the best ELSS mutual fund in 2024: Shortest lock-in period: The 3-year lock-in period of ELSS mutual funds is the shortest among other tax-saving investment options. For example, PPF has a minimum maturity period of 15 years. Hence, tax-saver fund schemes are more liquid. jamie redknapp ex wife
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WebDec 14, 2024 · HDFC Retirement Savings Fund Equity Plan. An open ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). This is a notified Tax Savings Cum Pension Scheme which invests a minimum of 80% of the portfolio in Equity and Equity related instruments. WebApr 11, 2024 · Hi, this is Abhineeth. I am a 30-year-old working as an Engineer in the state government service. I joined this position in 2016, and this is my 7th year. This is how I aim to achieve financial independence and buy/construct a decent house for my family. About this series: I am grateful to readers for […] WebThe three year lock-in in Parag Parikh Tax Saver Fund is much lower than this, and therefore should not deter you. If you require to redeem within three years period from date of the investment. If you are not comfortable with volatility in the Net Asset Value. If you depend on periodic income in the form of mutual fund dividends. lowest cell phone accessories