News From Press Investing in ELSS to save taxes? You have to pay more now to get full tax benefit

Investing in ELSS to save taxes? You have to pay more now to get full tax benefit

With the implementation of the Stamp Duty on financial securities transactions at the national level, 0.005 per cent Duty will be charged on amounts invested in MFs.

The Financial Express Jul 3, 2020

The Equity Linked Savings Scheme is one of the popular tax-saving instruments due to its capacity to generate higher return in the long term apart from providing tax benefits on the investment amount and lower tax on long-term capital gain (LTCG) on maturity. A part of the equity-oriented mutual fund (MF) category, ELSS schemes have a lock-in period of 3 years.

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