Pension plans by mutual funds have a three-year lock-in like ELSS.
The fund offers deduction under Sec. 80C and the minimum lock-in period would be three years as in any other ELSS.
Check the asset allocation of your diversified equity fund to see that you really have a lower-risk scheme.
Here is a solution to the question that most investors are grappling with: 'Where should we invest now?'
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
Individuals could soon lose tax benefits available on fixed deposits with an over five-year term once the direct taxes code comes into force from April 2011.
Being an ELSS, it offers deduction under Sec. 80C
You can no longer ignore equity linked saving schemes when you plan your tax-savinginvestments. Here's a look at how these funds have performed.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Do you think equity linked saving schemes, ELSS, are a better option than unit linked insurance plans, ULIPs? What are the pros and cons of investing in both? Which scheme gives better returns in the long term?
Here's what you must know about filing your tax returns.
The assets under management of the 44-players mutual fund industry stood at Rs 24.55 lakh crore in May-end from Rs 23.93 lakh crore in April-end.
ELSS, in general, is one of the best options among the instruments eligible for tax benefits under section 80C both in terms of potential to grow as well as tax efficiency of the returns.
Kick start your saving and money management strategy at the age of 25, and build it up gradually.
Tax deductions and prioritising their sequence will help you streamline your investments for efficient tax saving.
Rediff reader Tushar Kulkarni, 40 from Dombivali shared some valuable tips.
With the tax-planning season in progress, you should brace yourself for a lot of 'noise' that you will soon be subjected to. The noise will come from various quarters. Mutual funds will hawk tax-saving funds (also referred to as equity linked saving schemes), while insurance companies will pitch in for ULIPs (unit linked insurance plans) and endowment plans.
So how does one go about comparing ULIPs vis-à-vis tax-saving funds? An illustration will help in putting things in perspective.
That's what ELSS investments have to offer, coupled with other benefits.
Find out why equity linked savings scheme is the best investment option for tax savers, why it is a favourite of tax-savers, what factors you must to consider while investing in ELSS mutual funds and how to choose them.
The choice of income tax saving instruments is important, but now you have to identify tax efficient investment options
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
Consider tax saving funds -- their average annual return over the past five years has varied from 16% to 108%.
The stock market regulator Securities and Exchange Board of India (SEBI) has brought in sweeping changes for the mutual fund industry. And here's how they will benefit you.
Two tax-saving funds that you might consider investing in. Here are their salient features.
Investors and startup executives are calling for extending the period for an entity to be recognised as a startup from 10 to 15 years for deep-tech companies.
If you are investing your money only in public provident funds then should you start putting your money in mutual funds' systematic investment plans?
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
While it is suggested that withdrawals and loans against long-term instruments are not the wisest steps, if you really need to do so, here are a few options. . .
ELSS have a long and proven track record, which is missing in ULIPs
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
