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ELSS means Equity linked saving scheme. ELSS funds have a lock in period of 3 years, the lock in period prevents unnecessary withdrawals and helps your money grow over a period of time.
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What is ELSS? How Do You Benefit from it?
ELSS means Equity linked saving scheme. ELSS funds have a lock in period of 3 years, the
lock in period prevents unnecessary withdrawals and helps your money grow over a period of
time. This allows you to ignore the short-term slumps and stay invested for a long period. The
potential of equities start to show only after a few years.
Attractive Benefits through a Single Investment:
Tax Benefit
Tax Benefit depends upon the tax bracket of the investor (10% slab, 20%, 30%).
• Maximum Investment – Rs.1 Lac.
• Investment amount will be deducted from income and tax will be saved to that extent (depending
upon the slab).
• Maximum tax benefit upto Rs.30,900/-. (including 3% cess)
Things to Remember:
1. ELSS has the minimum lock-in ( only 3 years ) among all tax savings schemes.
2. ELSS is not only for tax payers. Any investor who can block the money for 3 years can invest.
3. Any amount can be invested in ELSS, but the IT benefit u/s.80-C is restricted to Rs.1 lac.
Invest immediately and save tax upto Rs.30,900/-
Not only that, dividends if declared are totally tax free & no tax on long term capital gain also.
*To procure more Mutual Funds, Contact Fullerton Securities. Call Now:
39400800