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Wednesday, April 9, 2014

SIPs into ELSS Mutual Funds to Save Tax for 2015

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One of the best tax saving instruments in the mutual fund space is the equity-linked s av i n g s s ch e m e s (ELSSs), which are offered by mutual fund houses. If you invest in ELSSs, which are approved by the government for saving taxes, you can claim tax benefits under section 80C of the Income Tax Act. In every ELSS, you can do a systematic investment plan (SIP) with an ECS mandate so that every month a fixed sum of money is deducted from your account and invested in the plan. For this, all you need to do is fill up the forms for investing in an ELSS once, along with an SIP form and the bank mandate form. Once all these, along with your Know Your Customer (KYC) forms, are in place, the investments should start without any problem.


An SIP investment also allows the investor to reap the benefits of rupee-cost averaging. That is, you buy more when the price is low and less when prices are high, averaging out your cost of acquisition. In comparison, if you invest a l u m p s u m amount, you may not have got the best price to invest in that ELSS.

For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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