The Union Budget 2021 will be the first one in the post-COVID world and the industry will be expecting concrete measures from the government in favour of a fast-tracked revival process for the economy.
Typically, ELSS funds are flexi-cap funds. It means these funds have the flexibility to invest in companies of all sizes (based on market capitalisation) without any restriction on any sector.
How to choose the right ELSS fund
January 23, 2021
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Hasty decisions may save tax in the short term, but can prove to be damaging in the long run If you choose the old tax regime, it is ideal to start your tax planning investments at the beginning of the financial year. But most take it easy until the last one-two months of the year.
This results in spur-of-the-moment decisions such as investing in equity-linked savings schemes (ELSS) when it may not suit your risk profile or, even when it does suit, choosing the scheme without doing any homework.
ELSS funds are equity MF schemes that provide tax benefits for investments of up to ₹1.5 lakh a year under Section 80C of the Income Tax Act. The schemes have a three- year lock-in.
Union Budget 2021: Will there be relief in Budget under Section 80C?
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Union Budget 2021: Will there be relief in Budget under Section 80C?
Smriti Jain / TIMESOFINDIA.COM / Jan 22, 2021, 18:42 IST
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Budget 2021: In the last decade the limit for Section 80C has been revised only once.
Budget 2021: Every year the common man looks at the Finance Minister to provide additional tax relief in the Union Budget. Amongst other changes, taxpayers and particularly the middle-class expect an increase in the limit under Section 80C of the Income Tax Act. Union Budget 2021 on February 1 will be no different, Covid 19-hit taxpayers will look for relief from FM Nirmala Sitharaman. At present the limit is Rs 1.5 lakh but with revenue limitations experts are divided on whether Budget 2021 will see a hike in Section 80C limit.
Updated Jan 19, 2021 | 07:00 IST
With markets hovering around all-time highs and Nifty PE being close to 40, risk-taking investors looking for double digit long-term returns are hesitant to invest in ELSS funds. Representational image
New Delhi: As the current financial year 2020-21 draws to an end taxpayers are in a hurry to complete their tax planning. With multile options available infront of them for tax-saving, taxpayers often face the dilemma of where to invest. Specificly, with markets hovering around all-time highs and Nifty PE being close to 40, risk-taking investors looking for double digit long-term returns are hesitant to invest in Equity Linked Savings Scheme (ELSS) although it has given solid returns.