a. ELSS
How is ELSS different from other tax saving options like PPF & NSC?
ELSS is different from other tax saving investments in many ways. While most of them are debt instruments, ELSS is equity based. It has a relatively lower lock-in than schemes like PPF, NPS, etc. However, being market linked, it takes on more risk to ...
At what age should you invest in ELSS?
You can invest in ELSS at any age. However, it is advisable to start investing more at a younger age, and gradually shift to lower risk debt instruments to reduce risk in your portfolio with passage of time.
How much can I invest in ELSS?
You can invest any amount in ELSS. But the overall tax exemption limit will be capped at ₹1,50,000 as per section 80C.
What is ELSS?
ELSS is a type of diversified equity mutual fund which is qualified for tax exemption under section 80C of the Income Tax Act, and offers the twin-advantage of capital appreciation and tax benefits. It comes with a lock-in period of three years.