Since, financial year 2017-18 has just begin, one must be looking for good investment options where they can create wealth and save tax also under section 80C of the Income Tax Act.
Investors should take steps early to avail dual benefit to gain maximum returns, rather than doing last minute tax -saving without timing the market. To achieve that benefit, you must consider making some of your investments in Equity-Linked Savings Schemes. These schemes will not only save your taxes and appreciate your capital but also help you in achieving your desired financial goal.
Why Invest in ELSS?
Equity helps in achieving long-term high returns, potentially the returns are higher than the other tax-saving instruments, which are available in the market. The fund has a lock-in of three years, therefore, neither you nor the fund manager must worry about redemption pressures. Hence, fund managers can more effectively and smartly construct a portfolio with a long-term perspective and help you achieve good returns. Returns are tax-free rallied In normalcy, ELSS funds fall under the category of equity funds and any return received from these funds after completing one year is totally tax-free. As an investor, you must know that ELSS funds come with a lock-in period of 3 years. So, the return, dividends, and the capital gain achieved from such funds also become tax-free.
Income tax exemption
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