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    Vikshita Vitthal Gujaran in News

    13-Mar-2023 10:07 AM


    Last-minute tax savings: Why an ELSS works well for patient investors

    Towards mid-March, some investors figure out that they are yet to complete their #tax-saving investments.
    You may also refer to MC30, a curated basket of mutual fund schemes.
    To build wealth using ELSS, one has to have a long-term view on equities and should hold on to the investments for five to seven years ignoring intermittent volatility.”
    Roshni Nayak, a #SEBI-registered investment advisor and founder of Goalbridge, is of the opinion that having only one ELSS in a portfolio is good enough. “
    When you sell units of ELSS, you book long-term capital gains, which are taxed at the rate of 10 percent if they exceed Rs 1 lakh in a year.
    Extant rules prescribe that allotment of units happens only when your money reaches the mutual fund house.

    Source - Money Control