ELSS Equity-linked saving Scheme is a famous tax saving option. You can get tax concessions to invest around 1.5 lakhs rupee per year. It also has the potential to generate a higher return than other tax savings.
What is ELSS?
ELSS stands for Equity Linked Saving Scheme. It is driven by a taxa -related saving scheme. When investing in ELSS, keep one thing in mind, receive the best kind of return, and do not let go of your peace of mind. It must not charge expenses that are higher than others and the Equity Linked Saving Scheme provider should be the best. Make your plan out your investment in it very sharply and ELSS does not make a mockery of your other investments.
Features of ELSS
The ELSS is a great investment option for those who are new in the investment market. The Equity Linked Saving Scheme not only provides a confirmed return on investment over the period but also acts as a tax-saving instrument. It does not have any age limit so you can start investing in Equity Linked Saving Scheme from the first day of your earning. Besides these, there are many other features of the Equity Linked saving Scheme.
How to invest in ELSS through SIP
While investing in Equity Linked Saving Scheme SIP is always recommended because investors will not be in a burden to invest all amounts at once. It has the lowest lock-in and easy to redeem. You can do SIP with a small amount of 500 or 1000 every month. You should always start saving for the tax before anything because you can enjoy the power of compounding and have lots of time to select the right fund. Equity Linked Saving Scheme not only helps to save taxes but also uses the same amount in the future. You should have linked your goal to your investment.
Steps to Invest in Equity Linked Saving Scheme.
If you have decided to save tax through ELSS now the question would arise in your mind how to invest in Equity Linked Saving Scheme or what is the best Equity Linked Saving Scheme present in the market or the steps to follow before investing in ELSS.
- Determine Your Tax Slab And Taxable Income
You should have a clear idea about your tax slab and taxable income. Your clearance toward your idea will help you under which section you are going to save your taxes and which product is more useful for you.
- Pick The Best Equity Linked Saving Scheme.
Your past performance speaks tremendously about your skill and talent. Past performance is the guarantee of your future performance. It will help you a lot while investing in Equity Linked Saving Scheme. In this article we have explained what is ELSS and how to invest in ELSS through SIP, if you go through this article then you will not experience any trouble during ELSS login.