Can I show ELSS Funds for tax saving for all 3 yrs ?
October 30, 2014 6:16 pm
I have 2 questions.
- Can I show an ELSS fund investment (one-time lump sum amount invested and not through SIP) for saving taxes during all the 3 years of the lock-in period? For example, if I invest in an ELSS fund in Feb 2014, can I show it to save taxes in March 2015-17 during the 3 year lock-in period like LIC or SIPs?
- Also please share what type of one-time tax saving investments can be done, that be considered for as tax saving investments each financial year apart from PPF, LIC and SIP? I’d like to relieve myself of the headache of investing in a new financial product before each financial year nears. Please suggest accordingly.