What is the ELSS Calculator?
ELSS stands for Equity Linked Savings Scheme, which is a type of mutual fund that primarily invests in equities or stocks. ELSS is known for its tax-saving benefits under Section 80C of the Income Tax Act in India. Investors can claim a deduction of up to ₹1.5 lakh from their taxable income by investing in ELSS.
An ELSS calculator is a tool that helps investors estimate the potential returns on their ELSS investments. It takes into account various factors such as the investment amount, expected rate of return, and the investment tenure.
Advantages of ELSS Return Calculator
Advantages of using an ELSS return calculator include:
- Financial Planning: Helps in effective financial planning by estimating potential returns based on investment amount, tenure, and expected rate of return.
- Tax Savings: Gain insights into potential tax savings by utilizing the ELSS calculator, helping you plan your investments strategically to maximize tax benefits under Section 80C.
- Time-Saving: Quickly generates estimates, eliminating manual calculations and the need for extensive financial modeling.
- User-Friendly: Provides a user-friendly interface, making it accessible for investors of various levels of financial expertise to use and understand.
