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What sure shot returns would I get on ELSS?

Asked on 12-06-2018 by Anonymous -

Answered by NewsBytes

Since Equity Linked Saving Scheme depends on the equity market, so it is hard to predict the returns. However, the best performing funds have shown capabilities to generate high returns over a long period of time.

What kind of people should invest in ELSS?

Asked on 12-06-2018 by Anonymous -

Answered by NewsBytes

ELSS is a more suitable option of investment for people who are looking at a long-term investment with tax saving on their mind as it would provide good returns. For people who are near retirement, they should be a little careful as it involves a higher risk compared to other investment schemes.

Are ELSS and mutual funds one and the same thing?

Asked on 12-06-2018 by Anonymous -

Answered by NewsBytes

ELSS and mutual funds both belong to the same family but they do have a difference. The difference is that in an ELSS there is a lock-in period of 3 years, on the other hand, there's nothing like a lock-in period for a mutual fund.

What is the maximum limit on investment in ELSS?

Asked on 12-06-2018 by Anonymous -

Answered by NewsBytes

There is no maximum limit of investment in ELSS.

What is the lock-in period in ELSS funds?

Asked on 12-06-2018 by Anonymous -

Answered by NewsBytes

There is a lock-in period of minimum 3 years in ELSS funds. That means you cannot withdraw your investments before 3 years.

What are the disadvantages of ELSS as compared to NSC and PPF?

Asked on 12-06-2018 by Anonymous -

Answered by NewsBytes

The risk factor is comparatively very high to NSC and PPF in ELSS. ELSS investments are risky as the returns are based on the equities which are volatile in nature. However, best performing funds have shown capabilities to generate high returns over a long period of time. This is something, which a PPF and NSF fail to achieve

How much tax can I save by investing in ELSS?

Asked on 12-06-2018 by Anonymous -

Answered by NewsBytes

If you are in the highest tax bracket of 30% then you can save a maximum of up to Rs. 45,000/- as taxes by investing a maximum amount of Rs.1.5 lacs under Section 80C of the Income Tax Act, in the year of investment.

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