What Is ELSS Mutual Fund Know its Advantages and Benefits

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 ELSS

ELSS Stands For Equity Linked Saving Scheme. ELSS Funds are Tax Saving Mutual Funds

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 ELSS Benefits

ELSS Funds Invest in Equity and equity-linked securities.

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Tax Exemption

ELSS Mutual Fund OfferTax exemption Under Section 80c Of The Income Tax Act 1961 Upto 1.5 Lakh.

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ELSS Lock-in

ELSS Mutual Funds Have a Lock-in Period of Just Three Years.

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LTCG

Post lock-in returns from ELSS are taxed as long-term capital gains (LTCG)

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Tax

There is tax exemption on long-term capital gains up to Rs 1.5Lakh per year. If the gain exceeds Rs 1.5 lakh per year then 10% tax is levied.

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ELSS Investment

ELSS funds invest a minimum of 80% in equities, with the remaining portion  invested in debt funds.

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Disclaimer

All mutual fund investments or Mutual Fund Jankari are subject to market rates Ismail advises its readers, and viewers, to read all scheme-related documents carefully and consult a registered financial advisor before making any money and investment-related decisions. .

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