Feb. 19, 2021, 1:12 p.m.
(1)ELSS stands for - Equity Linked Savings Schemes.
(2)These funds invest major portion of funds in equity or equity related instruments.
(3)Also Called Tax Saving Funds one can claim an exemption of the amount invested up to Rs.1,50,000 on taxable income under section 80C of Income Tax Act 1961.
(4)Lock in period of 3 years.
(5)Income earned under this investment at the end of 3-year tenure will be considered as Long term capital gain and will be taxed at the rate of 10%(If the Income is above Rs.1 Lakh)
(1)ELSS stands for - Equity Linked Savings Schemes.
(2)These funds invest major portion of funds in equity or equity related instruments.
(3)Also Called Tax Saving Funds one can claim an exemption of the amount invested up to Rs.1,50,000 on taxable income under section 80C of Income Tax Act 1961.
(4)Lock in period of 3 years.
(5)Income earned under this investment at the end of 3-year tenure will be considered as Long term capital gain and will be taxed at the rate of 10%(If the Income is above Rs.1 Lakh)
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