Invest In ELSS Mutual Fund

1. Tax Savings of up to Rs 46,800 in a financial year Investments in ELSS funds are eligible for tax benefits under Section 80C of the Income Tax Act. Under this section, you could claim deductions of a maximum of Rs. 1.5 lakhs from your taxable income. Assuming you fall under the highest tax bracket of 30% and have invested the entire Rs 1.5 lakhs in ELSS funds in a financial year, you could save taxes up to Rs. 46,800.

2. Shortest lock-in period among Section 80C options ELSS Mutual Funds come with a lock-in period of just three years, which happens to be the shortest among all tax-saving investment options under Section 80C of the Income Tax Act, 1961. Hence, they are more liquid as compared to any other Section 80C investment.

3. Potential to create wealth By investing in ELSS, you not only get tax benefits but also an exposure to Equity Markets. For sustainable wealth creation in the long term, one cannot ignore equities. This is because, equity as an asset class has the potential to beat inflation and generate higher returns than most other asset classes.

4. Better Post Tax Returns Since the lock-in period is of 3 years for ELSS investments, the capital gains arising are taxed as Long Term Capital Gains. Capital gains of up to Rs 1 lakh a year are tax-exempt and any long-term gains exceeding Rs 1 lakh are taxed at a rate of 10%, thereby giving better post tax returns.

1. Any investor looking to save taxes u/s Section 80C can consider investing in ELSS.

2. ELSS is best suited for young investors as they have time on their side to unleash the power of compounding to the fullest and enjoy high returns while saving on taxes of up to Rs 46,800 a year.

It is not necessary to have a large sum of money to invest in ELSS Mutual Fund. Most ELSS Mutual Fund allow you to start a SIP (Systematic Investment Plan) and lump sum (one –time) investment with a minimum investment of Rs 500.

1. Invest in best ELSS Funds with ease in just 2 minutes through website or ICICIdirect Money app

2. Scheme selection made easy through list of recommended ELSS Funds hand-picked by award-winning research

3. Get proof of investment online – generate it yourself or get it on registered e-mail demat account or have given financial documents physically. You can activate your account by accepting online Terms and Conditions for Commodity Derivatives and submitting Mandatory Communication Details wherein you will have to give mandatory details and commodities preference. This 'Mandatory communication Details' page will be displayed post acceptance of Terms and Conditions. If you are a resident Indian then your Gross Annual income should have been update within 18 months, if you are a corporate then your networth should have been updated within 18 months. You can update your gross annual income p. a./Networth under Setting > Personnel Details –>Other Details tab.

Since ELSS mutual funds are a type of equity funds, they are taxed like an equity fund.

1. No short-term capital gains as there is a mandatory lock-in period of three years.

2. Gains arising from ELSS investment are taxed as Long Term Capital Gains. The long-term capital gains of up to Rs 1 lakh a year are tax-exempt. Any long-term gains exceeding Rs 1 lakh are taxed at a rate of 10%

After you place your order, you can view the details of your transaction from the Order Book in ICICIdirect.com. Also an email will be sent to your registered email address

As decided by the AMC, there is a minimum transaction amount indicated against each scheme. You will get to see the minimum transaction amount for each scheme while placing your Mutual Fund order.

Yes, you can transact at any time of the day. However, in order to get the applicable NAV for the current day you would have to transact before the cut-off time of the scheme. If you place any order after the said cut-off time, you would be eligible for applicable NAV of the next day. As per SEBI guidelines the cut-off time for accepting orders in Non-liquid funds is 1500 hrs. However, taking into account internal transaction processing time, ICICIdirect.com has kept the cut-off time, for accepting orders in Non-liquid funds as 14:00 hrs.

Yes, you can place your request even on a holiday. However, the request would be processed on the next business day and your order will processed as per applicable NAV of the next business day