Selecting the right ELSS for saving tax and meeting long term goals: Know the factors
Investors India|May 2021
The new financial year 2021-22 has begun and it is time to plan your tax liability for the year. Government allows taxpayers to invest in certain specified investments and reduce tax liability for the year.

One such tax saving investment is equity-linked investment scheme (ELSS) which is a type of equity mutual fund but with certain characteristic features. ELSS helps an investor reduce one’s taxable income by the amount invested and thereby reduces tax liability. Importantly, link your investments in ELSS to a long-term goal like children’s education, marriage, home buying or one’s own pension needs. Let us now see what ELSS schemes are and how they help in tax planning and cut your taxes for this financial year 2021-22.

What are they?

As the name of the scheme very clearly suggests, it is a savings scheme that’s linked to equity. Investment avenues for your savings can be a mix of various asset classes like equity, debt, gold, real estate etc. ELSS is a type of mutual fund, which similar to any diversified equity mutual fund routes investments into the equities.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM INVESTORS INDIAView All

Tips to create wealth over long term by investing in mutual fund SIPs

Mutual fund has emerged as a popular investment option for meeting the longterm goals. The popularity of mutual funds is increasing day by day because of simplicity, transparency, and as a cost-effective tool to generate a high return compared to other investment options.

3 mins read
Investors India
June 2021

Investing in debt mutual funds: Things to consider before you invest in them

The interest rate has been falling creating a precarious situation for the senior citizens and retirees. Fixed-income investments are providing low yields and thus retirees are finding it difficult to manage their regular income needs.

6 mins read
Investors India
June 2021

INSURANCE NEWS

01. Insurance sector has grown at a healthy 9.7% in 2020-21

2 mins read
Investors India
June 2021

Ask the Expert

Q Dear Sir, I am going to retire from my private company service after one year. I will not get any pension and my monthly expenses are expected to be around Rs. 50,000/-. How much retirement corpus I must accumulate to ensure that I am able to meet my expenses? -Ajay Sahni, Kanpur

3 mins read
Investors India
June 2021

MUTUAL FUND NEWS

01.Key officials in AMCs to get 20% salary in the form of MF units: SEBI

3 mins read
Investors India
June 2021

Health Insurance amid Covid-19: Know about plans, coverage, home care treatment and claim process

The Covid-19 pandemic in the country is having a big toll on the health and lives of the population. While it may too early to estimate the extent of damage to the economy, some of the impacts on personal finances may already be seen.

6 mins read
Investors India
June 2021

Should you bet on dividend yield funds?

One value-oriented mutual fund category that has made a comeback over the past year or so is dividend yield funds. The category has given investors an average return of 68.9 per cent over the past year.

5 mins read
Investors India
June 2021

Natural Ways To Prevent And Cure Diabetes

Diabetes is becoming an epidemic in India and everywhere. Diabetes is commonly known as the ‘high sugar’ problem. Currently, a fasting blood glucose (sugar) level of 126mg% or more is defined as diabetes. The blood glucose level is normally kept in range by a hormone called insulin, which is produced from the pancreas. Insulin controls blood glucose levels by allowing glucose to enter the cells so that it can be used as fuel by the body.

7 mins read
Investors India
June 2021

5 Mutual Fund Features To Help You Build A Robust Investment Portfolio

It has been a blockbuster performance of equity mutual funds in 2020-21. The return generated by most equity mutual fund schemes in the last 12-months has been nothing short of a spectacular performance.

6 mins read
Investors India
June 2021

How To Start Investing In Mutual Funds?

When you begin investing in mutual funds for the first time, you must take each step with a lot of care. Your initial experience must be pleasant so that you feel encouraged to keep on investing for your entire lifetime.

5 mins read
Investors India
June 2021