Did you read my mind?😁 Coz my dad wanted to invest in ELSS so he asked me for info and there it was, a notification of your ELSS video on my phone. So simply played the video in TV and Shankar explained all about ELSS very clearly and easily. A very precise explanation. Thank you 👌🙋🏻♂️
Few queries regarding MFs: 1. If an active MF consistently beats an index, why to invest in the index fund just to save 0.5% TER and miss out on the extra 4-5% returns by the active MF? 2. If the current PE of an index is much higher than its 3-5yr median, then does it make sense to continue the SIP of the same amount? Can we reduce (not stop) the SIP in such cases until the index PE falls to a reasonable level - and increase the SIP for every 3-4% drop in the index? 3. Index fun investments pump also the laggards in the index. So, the undeserving stocks also get inflows. Pls share your thoughts on this topic.
Once again a great video from ETMoney Quick question , I have maxed out my 80C with other tax saving instruments. Why do I need to invest in ELSS rather than other more specific and aggressive funds like Large and Small caps or like even Sectoral funds ? In other words , keeping tax benefits aside , how is ELSS fund when compared other MFs
SHANKAR SIR. THANKS A LOT FOR SUCH A INFORMATIVE VIDEO. I HOPE WE WILL KEEP GETTING INFORMATIVE VIDEOS THAT ARE HELPFUL FOR INVESTORS LIKE US. A VERY RECENT VIDEO ON PPF WAS ALSO FANTASTIC. I AM A INCOME TAX OFFICER. FOR KNOWLEDGE SAKE ALSO WATCH THESE VIDEOS WHICH HELP ME WHILE DEALING WITH THE ASSESSEE WHILE ADVISING THEM HOW TO PAY TAXES AND ALSO HOW TO SAVE HARD EARN MONEY. ONCE AGAIN THANKS A LOT SIR. TAKE CARE.
Most welcome, Ram Krishna Jha. Very glad that the videos are helpful to you at many levels. Awareness is half the battle won and it is good to know that you are able to use this when working with assessees
You should add those video links that you've referred in this video - that will help you get more views/likes/subscribes and we get to see the videos that you've referenced and are beneficial to us. But all in all, great video, thanks so much!
Thanks. Actually we have added links in the description of the video under the label "Resources". This has also been mentioned in the video at 3:00 and 11:22.
Kindly suggest the best alternatives to ELSS Mutual Funds for long term wealth creation in the New Tax regime with similar returns. I'm currently investing in ELSS, Flexi, Mid Cap & Small cap mutual fund each.
HELLO SIR U ARE DOING GREAT JOB.. CAN WE INVEST AS A WEALTH CREATION INVESTING IN ELSS UNTIL RETIREMENT UPTO 30 YEARS OF PERIOD??? OR WHICH INVESTMENT SCHEME FOR ONE NEW EMPLOYEE CAN INVEST
I have invested in ELSS in 2020. I have projected ELSS amount in 2023-24 AY in office. I need to show proof of investment by year-end. Can I show the 2020 investment as proof or should I invest freshly and show the investment?
Presently I am investing in PPF & NPS. I want to invest in ELSS fund. But I don't have a demat account. Please guide me about this. Tell me the procedure from opening a DEMAT ACCOUNT to start a ELSS SIP. PLEASE. THANK YOU.
Investing in an ELSS fund does not require a demat account. You can easily invest using the ETMONEY app. Pls download the same from the playstore and explore.
Thank you so much for the video. Its really insightful. Though, I have some doubts regarding the redeem of sips, for example- I have invested 36000 for 3 years lock in period with sip of 1000 per month. So, when I would be able to withdraw my money with ROI, I could not understand what you explained like for first sip of 1000 on 1-jan-18 , it would be redeemable at 1-jan-21. Please explain it.
Nice video for beginners. I have stopped an ELSS fund as the returns were poor compared to its counterparts. I have two options: 1. Even After three years,Dont redeem till it is absolutely necessary since the returns can beat that of FDs. 2. Redeem immediately after 3 years and re invest as per the scenario at that time. Please suggest which one is better. Thanks
Sir, I received mutual funds on death of my dad, he had invested lumpsum in regular funds through agent (ARN), mutual funds are transferred to me in zerodha account, in CAS statement ARN number is still showing, so does it mean AGENT is still receiving commission?, Also my query is I have 8 schemes in elss holding for past 7 years ,can tax be still claimed in lumpsum invested years ago?
Please input the amount invested in Section 80C column. This will be indicated when filing your returns. If in doubt, pls consult your tax advisor or access the many articles available on the Internet
Wonderful video but I would have appreciated more had you shown the process as to how to select one. And 1 question... I've recently invested in an ELSS fund through ET Money App through SIP Mode of 1000 Rs. per month. So as per the lock-in period, only 1000 will be redeemable at the end of the 1st lock-in??? Pleas explain
That's correct, suppose you invested on 2nd October 2021 an amount of INR 3000, it will be redeemable (adding the interest suppose 23%, annually), on 2nd October 2024
Hello sir! Should I invest in ELSS if my investment does'nt fall under the tax saving benefits in a financial year? My investment in ELSS won't even be 30000 in a financial year. In this case, will it be better to opt for other funds or stick to ELSS. Anticipating for your reply sir!
It'll help you reduce the lock in for the future, when you have greater income and are in taxable slab, You can continue with your elss fund and recycle old investment or invest more but with the added benefit that you may have crossed the three-year lock-in already
Many investors look at ELSS funds beyond being just a tax saving instrument. And thats because - many ELSS schemes have done extremely well and one can examine their performance, returns and downside risk along side flexicap, focussed and multicap funds. For instanc - presently, there are 3 ELSS funds within the top 8 funds (aggregate of 60+ ELSS, Flexicap and Multicap schemes) per the 3 year returns
Thank you, but i have a question I want to buy a SIP ELSS plan for 25 years, the investment amount in 23rd, 24th and 25th year can be only withdraw in 26th , 27th and 28th year?
Sir ,I have 1 index fund, so do I go for 1 ELSS MF fund as I am still not in tax Slav but in nxt 3yrs I may come inder tax Slav ? Please make a video on Index fund vs ELSS. Please suggest. I like ur voice n way of explanation....
Great video! Does ELSS come under which of these in 80C section 1. Subscription to approved mutual fund 2. Subscription to notified mutual fund 3. Subscription to equity shares.
Definitely that's not 3. Per an article we read on a Cleartax blog, it is : Subscription to any units of any notified [u/s 10(23D)] mutual fund or the UTI (Equity Linked Saving Scheme, 2005)
Can you please also clarify as to whether we can split employee NPS contribution between 80C and 80CCD(1B). Or do we have to make an extra deppsit of 50k to avail 80CCD(1B) rebate. Also, thank you Mr. Shankar for all the informative videos. They have been extremely helpful.
If the lock in period gets increased with each SIP installment, then when can we finally redeem our units if the period keeps on increasing? It'll go for life long if we keep on doing SIP. Please answer my doubt.
I will be grateful to hnow how income from MF is file. It is to be paid by MF investor by filing income tax return or already cut And submitted to Income tax department by MF company when give return to investor ?
Thank you ET Money for promt reply. One additional question- Being Living in Mizoram state ( small and economically weak state), ones is exempted to pay and does not need to pay personal income tax (From salary) except from business income. So,does this imply that as we never file personal tax for we may be exempted from MF capital gain as well ?
4.35 - 5.22 is it same for lumpsum in ELSS SCHEME , as mentioned for SIP is it same for Lumpsum in ELSS will have a lock-in period according to the date of investment......
I think if one is investing in ELSS then one shld invest lumsum as coz the day of investing will be one and on or after 3 yr from the day of investing one can just withdraw the amnt in the case of sip in elss evry installment made is treated independtly and can be only withdrawn after completion of 3yrs from that perticular date of the installment
@@ETMONEY Thanks for the reply sir. What I'm asking is whether the untaxed portion of my mutual fund profit(Consider that my profit is 1.5 Lakh and I already paid Capital gain tax for 0.5Lakh) will be added to total yearly income and attract tax as per income tax slab while filling ITR?
@@RAMALINGAMP69 Capital gain is a different heading and is separate from income from salary. Kindly read more at a website like cleartax or quicko .. or kindly check with your tax advisor.
So speaking about lock in period, I have my first SIP investment date on 1 Jan 2018 for which I will be eligible for redemption on 1 Jan 2021. So if my last SIP investment date is 1 Jan 2021 what is the eligible date of my redemption of my last SIP investment ?
ELSS gives tax benefit every year upto 1.5 lakhs per financial year. Similarly during next financial year, you have to invest again upto 1.5 lakh for tax benefit. Investment made in previous financial year is not carry forward to next financial year.
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