ELSS, or equity-linked savings scheme, is a type of mutual fund where you can invest in stocks and bonds to save on taxes. It's under Section 80C of the Income Tax Act, which lets you deduct up to Rs. 1,50,000 from your taxable income per year. By investing in ELSS, you can save up to Rs. 46,800 on your taxes annually. ELSS invests your money in a mix of company stocks (which can be of different sizes and types) and bonds. This gives you a diversified portfolio, meaning your money is spread out across different investments to reduce risk.
The ELSS Calculator is an online tool that helps you figure out how much your ELSS mutual fund investment could grow over time. You just need to enter details like the fund name, how much you're investing (either all at once or regularly), and how long you plan to invest for.
Once you've entered your info, the calculator will show you how much your investment could be worth when it matures, including how much you've put in and any gains you've made. It can also show you projections for even longer investment periods if you want to keep going. Plus, you can play around with different investment amounts to see how they affect your potential returns.
Basically, it helps you understand how your investment might grow and how much you might need to invest to reach your financial goals.
The ELSS mutual fund calculator helps you figure out how much money you could make from investing in an ELSS fund. You just need to enter how much you're investing, the expected yearly return rate, how long you'll be investing for, and whether you're investing monthly (SIP) or all at once (lump sum). After you fill in these details, the ET Money ELSS calculator will show you how much your investment could be worth at the end of your chosen investment period.
SIP, or Systematic Investment Plan, is a way of investing where you regularly put in a small amount of money. ELSS, or Equity Linked Savings Scheme, allows you to invest using SIP as well.
To figure out how much your SIP investments in ELSS can grow to, you need to use an ELSS SIP calculator. This calculator helps you estimate your future returns based on:
Fund Name: The name of the ELSS fund you want to invest in.
Investment amount: How much money you're putting into the ELSS fund every month.
Investment duration: How long you plan to keep investing. Remember, ELSS investments have a mandatory lock-in period of three years.
To calculate how much money you'll have after investing a lump sum in an ELSS fund, you'll need to provide:
Fund Name: The name of the ELSS fund you're investing in.
Lumpsum Investment Amount: The total amount of money you're investing in one go.
Investment Duration: How long you plan to keep your money invested in the fund.
With this information, you can estimate your returns using a calculator designed for ELSS lump sum investments.
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Here are some benefits of using ELSS calculator:
An ELSS (Equity Linked Savings Scheme) calculator is a tool used to estimate potential returns and tax savings from investing in ELSS mutual funds.
The ELSS calculator uses inputs such as investment amount, investment period, and expected rate of return to compute the potential growth of your investment and the tax benefits you may receive.
You typically need to input details such as the amount you plan to invest, the tenure of your investment, and your expected rate of return.
It helps you plan your investments by providing insights into potential returns and tax savings, aiding in informed decision-making.
No, an ELSS calculator provides estimated returns based on the inputs provided and historical data. Actual returns may vary.
