How ELSS can be your stepping stone to long-term equity investments
Investing in the Indian equity market can be both exciting and intimidating. As the saying goes, “In this world, nothing can be said to be certain except death and taxes.” However, if you’re an Indian investor looking to navigate the intricacies of the market while saving on taxes, ELSS Mutual Funds might just be the game-changer you’re seeking. With their unique blend of tax-saving benefits and long-term investment potential, ELSS funds have become popular among individuals aiming to secure their financial future. Recent statistics indicate that ELSS funds have gained significant traction, making them a conversation-worthy option for anyone looking to dip their toes into equity investments. So, without further delay, let’s learn how these funds can be the ideal solution for prolonged equity investments. Time to get started! Understanding ELSS Mutual Funds ELSS, or Equity Linked Savings Scheme, is a category of Mutual Funds (MFs) that not only offers the potential for long-term wealth creation but also serves as a strategic tool for tax savings. These funds come with a lock-in period, typically three years, which ensures that investors commit to a long-term perspective. The best part? Investments in ELSS Mutual Funds are eligible for tax deductions under Section 80C of the Income Tax Act. This dual benefit of wealth creation and tax savings has made ELSS funds a preferred choice among investors keen on growing their capital while minimising their tax liability. …
