Investment in ELSS - tax saving funds - Dividend or Growth

Q & A Forum › Category: Mutual Funds › Investment in ELSS – tax saving funds – Dividend or Growth

arindam.guha asked 9 years ago

Dear Sir My CTC is 3.97 for the year 16-17. How much should I invest in ELSS as to save taxes.

4 Answers

Sreekanth Staff answered 9 years ago

Hi, May I know your financial goals and investment time-frame?? Up to Rs 1.5 Lakh can be invested in an ELSS tax saving fund and claim tax deduction u/s 80C. Suggest you to use this income tax calculator..

arindam.guha replied 9 years ago

Sir
My investment time frame is for 5 years and financial goal is to have a corpus of around 20 lakhs at the age of 60 years

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Sreekanth Staff answered 9 years ago

Hi, Ok. Suggest you to kindly use the calculators available in the below articles to analyze your expected savings to reach your goal corpus amount. Kindly read: http://www.relakhs.com/retirement-planning-calculator-3-easy-steps/ http://www.relakhs.com/calculate-kids-education-goal-amount/

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arindam.guha answered 9 years ago

Dear Sir Please let me know some good ELSS funds where I can invest in SIP of 2000 per month as tax saving cum wealth creation.

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Sreekanth Staff answered 9 years ago

Hi, You may kindly go through below articles ; https://www.relakhs.com/best-elss-funds-2017-2018/ https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/ https://www.relakhs.com/income-tax-exemptions-fy-2017-18-list/