With UpWealth, invest in best tax saving mutual funds with lowest lock-in period of 3 years & better returns potential so that you can save & earn enough to travel your favorite destinations.
Invest in best performing ELSS funds & withdraw anytime with no paperwork needed.
Data security is our priority and all you investments are completely secure.
Invest in ELSS funds with 100% paperless & easy process in just 10 minutes.
Get your 80C investment proof instantly and submit to HR as an investment proof.
ELSS or Equity Linked Saving Scheme is an open ended equity mutual fund that offers the twin-advantage of wealth creation and tax saving. These funds have a lock in period of 3 years and invest capital in equity and equity related products.
Investment in ELSS funds qualifies for deduction of upto Rs 1.5 lakh under Section 80C of the Income Tax Act, in the year of investment.
In the highest tax bracket of 30%, you can save a maximum of up to Rs. 45,000/- as taxes by investing a maximum of Rs.1.5 lac under Section 80C of the Income Tax Act, in the year of investment.
So many times the sudden expenses pop ups and it can feel like an emergency but that really might not be true. You need to be very careful and ask below three questions to yourself before using your emergency funds.
If you get yes for an answer for all three questions then more likely the situation you are in is an emergency and you can utilize your emergency funds.
NO, earnings from ELSS funds after a lock-in period of 3 years are TAX FREE.
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