Equity Linked Savings Scheme

An Equity Linked Saving Scheme (ELSS) is a type of mutual fund that primarily invests in equities, offering potential for high returns along with tax benefits. ELSS is unique because it qualifies for tax deductions under Section 80C of the Income Tax Act, allowing investors to save up to ₹1.5 lakh in taxes each year. With a mandatory lock-in period of three years, ELSS not only provides the opportunity for wealth creation over the long term but also serves as an efficient tool for tax planning. It is an ideal investment option for those looking to combine tax savings with equity market exposure.

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Features

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Automatic Reinvestment: Dividends declared by the fund during the lock-in period are automatically reinvested.

Diversification: Access a diversified portfolio of equities across various sectors and industries, reducing the risk associated with investing in individual stocks.

Lock-in Period: ELSS has a mandatory lock-in period of 3 years, which is the shortest among all tax-saving investment options.

Regular Tax Benefits: Investments in ELSS are eligible for tax deductions up to ₹1.5 lakh under Section 80C of the Income Tax Act.

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Types of Equity Linked Saving Schemes (ELSS)

Growth ELSS:
- Focuses on capital appreciation over the long term by reinvesting the profits back into the scheme. Investors do not receive regular dividends, making it ideal for those seeking wealth accumulation.
Dividend ELSS:
- Provides regular income through dividends declared by the fund. Investors can choose between a dividend payout or reinvestment option, making it suitable for those looking for periodic returns during the investment period.
Dividend Reinvestment ELSS:
- In this type, dividends declared are reinvested back into the fund, buying more units of the scheme. This option helps in compounding the returns over time while still being eligible for tax benefits.
Direct ELSS:
- Allows investors to invest directly with the mutual fund company without involving intermediaries. This typically results in lower expense ratios and potentially higher returns due to reduced costs.
Regular ELSS:
- Involves investing in the scheme through a distributor or advisor, who may charge a commission. This option is beneficial for investors who prefer guidance and support in managing their investments.