In your journey towards wealth creation, investments are of paramount importance. Depending upon your individual financial requirements along with the overall goal of wealth creation you have several options when it comes to investing your hard-earned money. Generally, you can invest in asset classes of three broad categories: high-risk investment like equities, low risk investment like fixed deposits or government bonds and lastly, tax saving mutual funds.
Equity Linked Savings Scheme is an equity based mutual fund, which provides you with tax-benefits under Section 80C of the Income Tax Act. ELSS Mutual Funds have a minimum lock-in period of three years.
Thus, ELSS Mutual Funds are among the best investment options, which provide higher returns with a short lock-in period. The best part is the tax-savings offered by the scheme.
A diversified portfolio is the key to wealth creation and ELSS is a must-have financial instrument for every portfolio. To make investing and maintaining your financial portfolio easier, you can open a Demat account in India. The benefits of Demat Accounts are manifold, but the prime plus point is being able to view all your entire portfolio in one go. So, take the first steps towards your long and profitable investing journey by opening your Demat account.