January 25 2019
As current financial year is inching towards its end, it’s time to plan our investments for tax deduction under section 80C.
To avoid last minute rush, it is better to plan your tax savings now.
Amongst the various investment options available for deduction under section 80C, Equity Linked Savings Schemes (ELSS Mutual Funds) are the best tax saving investment option for wealth creation. They score higher than any other tax saving option on multiple parameters like:
1.In comparison to other 80C investment options, ELSS funds have least lock-in period of 3 years.
2.Tax-saving mutual funds invest mostly in stocks. This makes them an ideal investment option to create wealth over a long period.
3.ELSS Funds are tax efficient as gains upto Rs.1 Lakh in redemption proceeds are tax free in a given financial year. Gains over and above Rs. 1 Lakh are subject to only 10% capital gains tax.
4.Investments in ELSS funds can be done in lumpsum or through SIP mode.
We recommend you to discuss your tax saving investment plans with your financial advisor or consult your Personal Investguru Advisor@9910423232 before making an investment decision.