Which are equity linked saving schemes?
As the name suggests, Equity Linked Saving Scheme or ELSS is a type of mutual fund scheme that primarily invests in the stock market or Equity. Investments of up to 1.5 Lac done in ELSS Mutual Funds are eligible for tax deduction under section 80C of the Income Tax Act.
Which is best ULIP or ELSS?
The high costs, difficulty in evaluation, lack of transparency and low liquidity doesn’t make ULIP a suitable investment vehicle. On the other hand, ELSS funds provide both tax-saving benefits as well as higher returns from equity investments, and so are preferable as an investment option.
Is PPF better than ELSS?
From the table above, you can see that a PPF investment is a relatively safer option. However, PPF offers much lower returns over a longer time horizon than ELSS. The tax benefits and capital safety are more in favour of PPF; ELSS certainly is an option for better returns.
Is ELSS tax free?
An ELSS or equity-linked savings scheme is a tax-saving investment option under Section 80C of the Income Tax Act, 1961. These gains of up to Rs 1 lakh a year are made tax-free, and any gains above this limit attract a long-term capital gains tax at 10%.
Are there any equity linked savings scheme funds?
Equity Linked Savings Scheme Funds 2020 The ELSS Funds are Equity Linked Saving Schemes that make it possible for people to save huge money on their tax payments while incurring profit through equities at the same time. There are takers for ELSS Funds by people of every age group and in every profession.
Which is the best ELSS mutual fund in India?
4. Top Performing ELSS Funds Fund Name 3-year Return (%)* 5-year Return (%)* Quant Tax Plan 34.40% 23.49% Canara Robeco Equity Tax Saver Fund 26.17% 20.28% Axis Long Term Equity Fund 22.33% 18.57% Invesco India Tax Plan 20.6% 17.12%
Which is the only mutual fund in India with lock in?
Equity Linked Savings Scheme is an open ended mutual fund scheme with a statutory lock in of 3 years and which invests a minimum of 80% of its assets in equities. It is the only mutual fund scheme in India which qualifies for tax deduction under Section 80(C) of the Income Tax Act.
When to exit equity linked savings scheme ( ELSS )?
A major portion of the capital is invested in equity funds. The lock-in period applicable on these funds is 3 years and the investors can exit the scheme by selling it after this period. How to Invest in an Equity Linked Savings Scheme?