Yes, ELSS is one of the best tax saving options. Firstly, due to returns and secondly, due to the lock-in-period. ELSS funds can give much higher returns as compared to other schemes under 80C of the Income Tax act. It has the lowest lock-in-period of all the schemes under section 80C of just three years.

ELSS fund is one type of funds which invests at-least 80% of the asset in equity and equity-related investment. It comes with a lock-in-period of 3 years and qualifies for tax exemption under section 80c of the income tax act up to Rs. 1,50,000 lakhs.

By investing in ELSS funds, you became liable to get a tax deduction under the section 80c of Income Tax up to Rs 1,50,000 lakhs.

• Login with your credentials in Gulaq account.
• Choose the fund you want to invest.
• Fill-in the amount you want to invest.
• Make the payment through online banking.
• After it’s done, we will send you an email regarding confirmation of the payment.

The listed funds are some of the best-rated ELSS funds on Gulaq. You can choose to invest one or more from the list.

No, we do not charge anything for investing in ELSS funds. But Mutual fund houses do charge an annual fee called as the expense ratio. This range from 1% to 2.5% of the annual amount.

You will get the tax benefit only the year, you started the ELSS Fund in. The benefit will be the amount invested in the ELSS Fund in that year only.

You can withdraw money from an ELSS fund after 3 years. Before that period, your investment is subject to the lock-in-period of ELSS Funds.

No, there is no tax levied on the returns earned for an ELSS Fund. But in case if the gains are more than one lakh after a year in that financial year, then it comes under taxable zone.

You will get an email from Gulaq, acknowledging about your investment in the ELSS Fund. This will be an official confirmation used for future references.

No, your amount will not come directly into your account. To get the amount, you need to redeem all the amount or parts of it.

Lock-in-period is the time duration for which the mutual fund units cannot be redeemed or transferred to another person.

As ELSS funds invest in equities, the returns are not fixed. They depend upon the performance of the stock market. Historically, they have provided avg. returns between (12- 17%) per annum.

Well, the answer is simple. You can start investing from a small sum of Rs 500 to any sum. But to get the tax benefits under section 80c, it’s better if you invest up to Rs 1.5 lakh.

You can track the progress of your investment in any ELSS fund on Gulaq by visiting the “Portfolio” section in your Gulaq account.

You can invest before 31st March in any financial year to get the benefits of section 80C.

No, it’s not possible to withdraw your amount before 3 years.

ELSS funds are mainly equity market linked funds. They are therefore subjected to market risks.

Each investor has a different financial condition and may require a different investing approach. Different funds have different investment principles. You should invest depending upon your investment style. But avoid investing more than 4-5 ELSS funds.

The maximum tax benefit that can be availed by investing in ELSS each year be about Rs. 1.5 lakh.

ELSS is one of the best tax saving options under 80C. It provides you greater returns compared to other schemes under the same bracket.

Any Indian citizens who are above 18 years are eligible to invest in ELSS.

Yeah, you need to pay a little sum in the form of the expense ratio.

It all depends upon your Investment style to choose whether a SIP or Lumpsum.

No, you can’t switch the ELSS.

Yes, ELSS funds are open-ended.

ELSS can be open in a joint name.

Yes, ELSS comes under LTCG tax.

ELSS can be shown in section 80C of ITR.

ELSS is better than PPF due to attractive returns. PPF provides an average return. Apart from that, ELSS has lowest lock-in-period of all.

 In the case of ELSS direct, you directly buy from the company (AMC)

ELSS growth plan is basically a mutual fund scheme in which the fund doesn’t pay out anything to the investor in form of dividend, but on the contrary, all the profits are reinvested in the fund.

ELSS mutual funds are Equity funds that invest in stock markets hence the returns are also calculated based on returns of those stocks.

ELSS is tax-free under section 80C of the Income Tax act.

Both are two different schemes. Hence, ELSS is better for the short-term investment, charges are less, and lock-in-period is quite low. So, it totally depends on one’s investment objective and risk profile.

Yes, NRI customers can buy ELSS funds but there are certain conditions they have to fulfil before they can invest.

 Yes, ELSS funds are multi cap and have a lock-in-period of 3 years.

ELSS is one of the mutual fund schemes in which 80% of fund money is invested in equities. It has the lowest lock-in-period of 3 years and give returns between 12-20%. Tax Saver Fixed deposit is a risk-free financial instrument in which investor deposit a sum for a 5 Year period and gets fixed returns.

ELSS is equity linked saving scheme which provides an income tax deduction up to Rs 1,50,000. Large cap is equity fund which invest a large portion of their corpus in companies with large market capitalization. So, basically large cap provides stable, moderate returns to their investors.

Gulaq provides you the simplest and an easiest way to invest. It has no commission, no account fees, no hidden charges as well as you can be investment ready in less than 30 seconds. Our platforms provide the most user-friendly experience.