ELSS Tax Saving Mutual Fund
A lump sum amount is defined as a single complete sum of money. A lump sum investment is of the entire amount at one go. For example, if an investor is willing to invest the entire amount available to him in a mutual fund, it will be referred to as lump sum mutual fund investment.
The following are the main features of ELSS mutual funds:
- They offer tax deductions of up to Rs 1,50,000 a year under Section 80C provision
- ELSS funds come with a lock-in period of three years, and there are no provisions to make a premature exit
- You can invest any amount in ELSS, there is no upper capping, while the minimum investable amount varies across fund houses
- ELSS funds are the only tax-saving investment with the potential to offer inflation-beating returns
- Investing in ELSS funds gives you the twin benefits of tax deductions and wealth creation
- The portfolio of an ELSS fund mostly consists of equities, while they have some exposure towards fixed-income securities as well
- You can invest in ELSS through either SIP or Lump Sum.
- Aadhar Card
- Pan Card
- Email Id
- Mobile no.
- Canceled Cheque