Right Start Go - Get the Best Advice for Your Business
  • Automotive
  • Business
    • Manufacturing
    • Marketing
  • Finance
    • Loans
    • Insurance
    • Investment
    • Trading
  • Health
  • Home
  • News
    • Law
    • Learning
    • Property
    • Entertainment
    • Event
    • Travel
  • Shopping
  • Technology
    • Tech
    • Seo
No Result
View All Result
  • Automotive
  • Business
    • Manufacturing
    • Marketing
  • Finance
    • Loans
    • Insurance
    • Investment
    • Trading
  • Health
  • Home
  • News
    • Law
    • Learning
    • Property
    • Entertainment
    • Event
    • Travel
  • Shopping
  • Technology
    • Tech
    • Seo
No Result
View All Result
Right Start Go - Get the Best Advice for Your Business
No Result
View All Result
Home Finance

WHAT ARE ELSS (EQUITY LINKED SAVINGS SCHEME) MUTUAL FUNDS AND HOW TO INVEST

Acker Palma by Acker Palma
November 30, 2021
in Finance
0 0
0
WHAT ARE ELSS (EQUITY LINKED SAVINGS SCHEME) MUTUAL FUNDS AND HOW TO INVEST
0
SHARES
39
VIEWS
Share on FacebookShare on Twitter
0
SHARES
ShareTweet

Different investors have different needs that they wish to achieve from their mutual fund investments. Some wish to just fetch source of income, while others wish to accumulate wealth over time, while others wish to simply preserve their wealth, and some wish to save tax. If you are looking to save tax, you might consider investing in ELSS funds. The more you save on tax, the more you would be able to take the returns home. Hence, it is important that you give time and attention to your tax planning. Though there are several tax-saving investments that an investor can choose from, ELSS tax saver mutual funds stand out from all tax-saving investments. In this article we will focus on what are ELSS funds and how to invest in ELSS funds.

What are ELSS funds?

ELSS funds are a type of mutual funds that invest a majority of their assets in equity asset classes. These mutual funds are mandated to invest at least 80% of their investments in equities and equity related securities by the Indian mutual fund regulator – Securities and Exchange Board of India (SEBI). ELSS mutual funds have a mandatory lock-in period of three years. Although, mutual fund advisors or financial experts advise investors to stay invested for a longer duration. They often advise their clients to link their ELSS mutual funds with their long-term investments so that they do not get tempted to exit the markets at slightest market volatility. ELSS funds offer tax deduction of up to Rs 1.5 lac u/s 80C. While this fact is commonly known among investors, not much know that you can save up to Rs 46,800 per annum by investing in tax-saving investments. Hence, ELSS funds offer dual benefits to investors – tax saving benefits and wealth creation opportunity.

How to invest in ELSS funds?

If you are wondering how to invest in ELSS funds, here are some simple steps that can help you in your investment journey:

  1. Evaluate your taxable income and eventually the income tax slab you belong to
    Before you begin to invest in tax-saving investments, including ELSS funds, you must have a clear picture of your tax aspects, which includes your taxable income and the income tax slab you are likely to belong to. This will help you decide how much to allot to ELSS tax saving mutual funds.
  2. Choose the right ELSS mutual funds for your investment portfolio
    Before singling out the right tax saving mutual funds for your investment portfolio, you must consider several parameters such as past performance of the ELSS fund, age of the fund, XIRR (extended internal rate of return), consistency of the fund, etc. You must also make sure that your fund’s objectives must align with your risk appetite, investment horizon, financial goals, etc. You can look at the fund’s history to understand the fund’s vision and success ratio better.
  3. Invest in ELSS online
    As an investor you have the option to invest in ELSS either through the traditional offline method or the online mode of investment. All you have to do is simply input the required details, your bank details, and a copy of a cancelled cheque.
Tags: ELSSelss fundsmutual fund tax savertax saver mutual fund
Previous Post

Why Investing in Property is a Safe Game?

Next Post

How to Trade Forex

Acker Palma

Acker Palma

Next Post
How to Trade Forex

How to Trade Forex

  • Trending
  • Comments
  • Latest
Creating the Best and Reliable Sheep Shed Design 

Creating the Best and Reliable Sheep Shed Design 

February 12, 2018
Five ways to take your weed

Five ways to take your weed

May 17, 2019
Five Fine Features of Sliding Gates for Houses

Five Fine Features of Sliding Gates for Houses

August 29, 2018
How to Get into the Funeral Business

How to Get into the Funeral Business

June 17, 2018
Working From Home As A Pet Owner: Tips & Tricks On Managing Time & Care

Working From Home As A Pet Owner: Tips & Tricks On Managing Time & Care

0

Important Tips When Renting A Vehicle

0

What Personal Vehicle Leasing Is

0

The Intricacies Of Invoice Finance

0
Working From Home As A Pet Owner: Tips & Tricks On Managing Time & Care

Working From Home As A Pet Owner: Tips & Tricks On Managing Time & Care

September 29, 2023
Safest Android online banking apps in India

Safest Android online banking apps in India

September 15, 2023
Choosing the Right Vehicle Insurance: A Comprehensive Guide

Choosing the Right Vehicle Insurance: A Comprehensive Guide

September 1, 2023
Navigating the Option Chain on Indian Trading Apps

Navigating the Option Chain on Indian Trading Apps

August 21, 2023

Recent Posts

  • Working From Home As A Pet Owner: Tips & Tricks On Managing Time & Care September 29, 2023
  • Safest Android online banking apps in India September 15, 2023
  • Choosing the Right Vehicle Insurance: A Comprehensive Guide September 1, 2023
  • Navigating the Option Chain on Indian Trading Apps August 21, 2023
  • Stocks vs ETFs: the Differences August 18, 2023
  • Building the Foundation of Your Business Plan – Kavan Choksi June 1, 2023

2023

  • + September (3)
  • + August (2)
  • + June (4)
  • + May (2)
  • + April (2)
  • + March (4)
  • + February (2)
  • + January (6)

2022

  • + December (3)
  • + November (8)
  • + October (3)
  • + September (1)
  • + August (3)
  • + July (3)
  • + June (1)
  • + May (7)
  • + April (3)
  • + March (2)
  • + February (5)
  • + January (6)

2021

  • + December (3)
  • + November (4)
  • + October (12)
  • + September (10)
  • + August (5)
  • + July (4)
  • + June (5)
  • + May (4)
  • + April (6)
  • + March (7)
  • + February (9)

2020

  • + December (1)
  • + April (1)
  • + March (2)
  • + February (1)
  • + January (1)

2019

  • + December (2)
  • + November (2)
  • + October (1)
  • + September (4)
  • + August (4)
  • + July (2)
  • + June (6)
  • + May (4)
  • + April (4)
  • + March (10)
  • + February (7)
  • + January (11)

2018

  • + December (15)
  • + November (26)
  • + October (20)
  • + September (16)
  • + August (29)
  • + July (31)
  • + June (24)
  • + May (19)
  • + April (13)
  • + March (16)
  • + February (24)
  • + January (37)

2017

  • + December (2)
  • + October (1)
  • + September (6)
  • + August (8)
  • + July (7)
  • + June (7)
  • + May (3)
  • + April (3)
  • + March (2)
  • + February (4)
  • + January (3)

2016

  • + December (5)
  • + November (3)
  • + October (1)
  • + September (8)
  • + August (2)
  • + July (5)
  • + June (4)
  • + May (6)
  • + April (1)
  • Write To Us

© 2020 Right Start Go- All Rights Reserved.

No Result
View All Result
  • Automotive
  • Business
    • Manufacturing
    • Marketing
  • Finance
    • Loans
    • Insurance
    • Investment
    • Trading
  • Health
  • Home
  • News
    • Law
    • Learning
    • Property
    • Entertainment
    • Event
    • Travel
  • Shopping
  • Technology
    • Tech
    • Seo

© 2020 Right Start Go- All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In