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Equity Linked Savings Schemes
If you believe in thinking ahead and investing for the future, Equity Linked Savings Schemes (ELSS) - an equity mutual fund with tax benefits, is the ideal investment option for you.
It enables you to enjoy tax benefits of up to Rs. 33,600* under Section 80C of the Income Tax Act. Apart from that, ELSS has certain distinct advantages:
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ELSS exploits the potential of equities
As with an equity fund, ELSS funds invest a large part of the fund in equity. With the Indian economy possessing strong fundamentals and corporate earnings showing strong growth potential, equities as an asset class look set to provide attractive returns.
- ELSS lets the fund manager plan for the long term
Thanks to the 3-year lock-in period, ELSS allows the fund manager to build a portfolio for the long-term without worrying about everyday redemptions. Equity investments have proven to offer the best returns among various asset classes over a long term horizon. - No tax on capital gains and dividends
The profits on the sale of ELSS units are treated as long-term capital gains, and as per current tax laws, these are not subject to tax. Also, as per the current tax laws, there is no dividend distribution tax on equity investments and dividends earned are tax free in the hands of the investor. - Lowest Lock-in period
ELSS has the shortest lock-in period of all the tax saving instruments under Section 80C.
*The tax rate applied is 33.6%
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