Reasons You Should Include an ELSS Fund in Your Investment Portfolio

As soon as you hear the word ‘Tax,’ you experience an era of anxiety where you find yourself surrounded by concerns relating to tax filing and tax planning. Taxpaying is miserable, and everyone out there reading this write-up would agree with us at this point. Although there is no cure for paying such hostile tax amount, there’s always a method to reduce the liability. One such solution is investing in ELSS funds. To know more about them in detail, read this post to the end. Also, don’t forget to note down some of the best ELSS tax saving funds recommended by the experts at MySIPonline. So without further ado, let’s get started!

Before you dig deep into this topic, let’s understand the basics about ELSS tax-saving funds, and what makes them so important for an investor.

Why ELSS Funds?

ELSS or equity-linked savings schemes are open-ended and diversified schemes offered by Mutual Fund India. Investors have the benefit of parking their money in the best funds of ELSS category using both the methods- SIP(Systematic Investment Plan) and lumpsum. It has a minimum lock-in period of three years, and thus offers a better liquidity than other tax deduction options such as NSC and PPF. It is not wrong to state that ELSS tax-saving funds are one of the best tax saving instruments.

Some Key Benefits of Having Your Investments in ELSS Tax Savings Fund: 

1. The ELSS funds have a lock-in period of merely three years, which is the least among other tax-saving instruments under section 80 C of the Income Tax Act, 1961.
2. The investors can get the benefit of a tax deduction of up to Rs. 1,50,000 through ELSS investments under section 80C of the Income Tax Act, 1961.
3. Investors have the option to invest in equities and equity-related securities and get their funds managed by professional fund managers.
4. There is no tax liability on the long-term capital gains and dividends earned from a scheme of this category.
5. One can significantly reduce the stress of last minute rush by investing in the ELSS scheme through Systematic Investment Plan(SIP), and can also ensure the benefits of Rupee Cost Averaging. 

What Should You Check Before Investing in an ELSS Tax Saving Scheme?

The experts at MySIPonline suggest you to perform a thorough analysis of the scheme in which you want to invest in order to gain tax benefits. Also, don’t forget to check the long-term performance of the ELSS fund before stashing your money in it. Look at the fund details such as its current NAV, asset size, fund manager’s investment approach, the expense ratio of the fund, volatility, etc.

If you find the details mentioned above matching to that to your investment objective, then go ahead. In case you are someone who finds it hard to understand such complex terminologies related to finance, then contact our experts for seeking guidance and making the most favorable decision.

Some of the Top ELSS Funds That You Can Choose to Invest in:

• DSP BlackRock Tax Saver Fund (G)
• Reliance Tax Saver (ELSS)Fund (G)
• Axis Long Term Equity Fund (G)

Henceforth, if you’re looking for an investment portfolio as strong as a bull, then don’t hesitate in putting your hard-earned money in this tax saving instrument. To get more knowledge of the same or any other category of mutual funds, get connected with us at MySIPonline, and wave goodbye to all your investment-related worries.

Give Your Wealth a Golden Chance to Grow by Investing in ICICI Mutual Fund

Before you start investing in mutual funds, there’s a need to acquire a thorough check on the objectives and related characteristics like risk appetite, purchasing power, and preferred investment period. But out of the various options available, it’s difficult to select the best one and a wrong decision could land you in chaos. ICICI Mutual Fund – one of the rapidly flourishing mutual funds in India – is far away from the word “difficult to choose”, as it has achieved a remarkable stature in the market by giving lucrative returns to the investors. It provides investment plans which are geared to achieve the desired objectives in the chosen time period. All the products offered by ICICI MF have been performing reasonably well in the market, and have enabled many investors in extracting significant profits. Let’s learn more about this fund house and what it has to propose to its different clients –

A Brief Intro
ICICI Prudential Asset Management Company Ltd. is one of the foremost AMCs in India, that focuses on mending the distance between savings & investments and generating long-term wealth for investors through a wide range of simple and reliable investment solutions.

The AMC is a conglomerate of ICICI Bank, a renowned and respected brand of financial services firms in India, and Prudential Plc, which is one of UK’s most prominent players in the financial services sector. During the successful years of this joint venture, the company has engraved a position of prominence in the Indian Mutual Fund industry.

The Kinds of Products Offered

1. Diversified Equity Funds – Get High Returns with Minimum Risk Exposure : Since diversification is a crucial aspect to consider while investing in the equity markets, diversified equity funds are well-known amongst the investors. These funds place the investor’s money in different sectors, thus diminishing the risk of massive crunch of investment in situations of high tension in the market.
2. Debt Funds – For Steady Influx of Income : There is a huge gang of investors who desire to incorporate stability in their income and draw steady returns. ICICI Prudential AMC does hold a solution for all kinds of people in the skin of debt schemes. The funds in this category primarily invest in the debt and money market instruments, and assist in drawing consistent returns by the way of interest or dividend.
3. Balanced Funds – Enjoy Growth with Safety : A Balanced Portfolio is a unique mix of equity and debt funds, both being given reasonable weights in the portfolio. Equity funds comprise of a variety of diversified and large cap funds, while on the other hand, debt funds cover hybrid securities and balanced funds. A normal distribution system for balanced funds stands at 60% of the total amount placed in diversified and large cap category, while up to 35% of the investment amount is stashed into hybrid category.
4. ELSS Funds – Saving Taxes Made Easy : Returns and growth are both very tempting, but when it comes to slice off a big part of the return and pay to the tax authorities, the temptation disappears. This is where the ELSS funds come to the rescue. Investment in these funds allows a heavy deduction of Rs 1,50,000 under section 80C from your taxable income and thus, helps to save as high as Rs. 46,350/- on your total tax liability.

Investments in the best mutual funds is certainly not easy, and comes with its own challenges that require expertise and skill to handle them well. However, using the services of MySIPonline- an online investment portal – you can invest in a variety of high potential schemes that ICICI Prudential MF provides.

Tax Saving Made Easy with the Help of the Tax Calculator!

You have to admit that it's miserable for every person to pay taxes and there's no escape from the hostile tax rates that keep on increasing mercilessly. No matter how big an amount you are pulling down, you hate the idea of slicing off a hefty chunk and relinquishing it to the tax authorities. Nevertheless, a sound tax planning will surprise you with the amount of taxes that you could save and boost yourself to work more and earn more. Out of the many online tools available to recourse your tax planning, one of the most respected and well-responded tools is the tax calculator that serves both the purpose of a tax planner, and a guide to brilliant financial planning. Let’s further enlighten ourselves as to what all benefits does the tax calculator vest in itself.

Why Choose the Tax Calculator?

It's reasonable to ask yourself the question that why should you go for using the services of the online tax calculator. Well, there is not one, but many reasons that could be given for adding this tool to your widgets list, some of which are explained below:

• Accessibility: Since it's an online tool, you can have access to the tax calculator anywhere and anytime you want. It also fills in the gap of hiring professionals by providing online financial assistance and walks you through the complexities of tax planning economically. 
• Flawless Mechanism: Groomed with the latest technology and developed by a team of highly experienced financial experts, the tax calculator includes the benefits of both the worlds – sound tax planning and feasible financial advise. Now, anyone can take full advantage of this user-friendly online tool by getting the best tax advice and save the pain of paying high fees to the financial brokers. 
• Convenient: With the introduction of the online tax calculator, tax planning in India has never been simpler. Just feed in the details of your annual income and any other relevant deductions that you are eligible for, and you can see a multiple options of saving on your tax liabilities flashing on your computer screen. 
• Unbiased Advice: There's no deny that your financial expert may be a man of golden stars and his conviction is seldom wrong, but one must not forget that even experts sometimes make mistakes. On the other hand, tax calculator is an online machine that has been brought into existence after years of research and combining the efforts of not one, but numerous industry experts to rule out even the slightest margin of error and provide the best tax planning.
• Easy to Comprehend: Due to the growing use of the internet with each passing day, more and more online financial tools are being stuffed to the digital market which are neither economical nor easy to operate. However, the tax planning calculator has been launched with the absence of these issues, and is both user-friendly and approachable. 

A large variety of online gadgets can be found on the internet that automatically make deductions for which you are eligible, and help you calculate the adjusted gross income considering the appropriate tax slab applicable to you. Visit MySIPonline to get the facility of tax calculator in India and recommendations on saving huge liabilities on tax.