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Q.

I am 26 years and earn 5 lakhs/annum. Can I invest all 1lakhs in ELSS for tax saving.

Tags: years, lakhs, elss
Asked by Chandra Samal, 23 Apr '07 09:58 pm
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Answers (7)

1.

You can invest 1 lakh as u will get good returns and save tax also.
Answered by BRIJESH, 24 Apr '07 05:22 am

 
  
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2.

Investing in ELSS is a good idea. But I reckon you should weigh all your options before making a final call. This link might help. www.moneysukh.com
Answered by Robin Goel, 03 Mar '10 05:56 pm

 
  
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3.

You can try my services.I am a Certified Financial planner with over 13 years of experience in this field.I donot Charge anything for Financial plannning.Regards,Anil Kumar,
Answered by Anil Kumar K, 21 Jan '10 03:40 am

 
  
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4.

Best is diversify your investments instead of placing all eggs in one basket. contact shamsun123@rediffmail.com
Answered by shyam sunder, 12 Oct '09 02:32 pm

 
  
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5.

Hello.If you want to insure yourself and your family,it is a good option.But if you want to grow your money,then it is not a good idea as insurance is basically to insure yourself of money.This is the Era of Specialisation and insurance and growing money are two different fields and one should try to avoid both in one scheme(in case of ULIP).If you want to insure you and your family by taking life insurance,mediclaim policies,see to it that you consult a financial advisor and not just an insurance agent or anybody because every family is different and their insurance needs are different.Hope you understand this.
.My advice for your long term investment would be these fund schemes.These funds are Equity linked and have delivered good returns when the market has gone up and sustained the bad periods of the market since its inception.Hence they are the proved ones.They are tax free for upto 1Lac rupees invested in them.Equity linked Mutual Fund earnings are Profit (or) Loss earnings and ...more
Answered by Abdul Rehman, 12 May '07 02:41 pm

 
  
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6.

Hope u are fine.

Dear, I suggest that you should invest in ICICI Prudential Life Insurance Company's ULIP Plan (Mutual Fund based). There you will get better returns alongwith Tax benefit and Insurance. In ULIP Plans you can pay only for three years or upto the age of your plan and plan can be taken for 0-30 or 35 years according to your age or as u wish.

After three years you can withdraw, partly withdraw and can run the plan for a long way without any deposits after three years.

ICICI is the AAA rating company and have given 68% return in the last year for the investment and average 38% for the last six years since inception. ICICI is the No.1 private Insurance Company and in ULIPs it has performed well in comparison to others.

If you will compare this with others like LIC (both for ULIPs and Traditional Plans) there you will find lot of expenses and investment is on very lower side in comparison to ICICI.
...more
Answered by Satyavir, 25 Apr '07 01:17 pm

 
  
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7.

You can invest all money in ELSS but i wud suggest to diversify the investment in other instruments as well. and when u invest in ELSS try investing thru SIP,.
Answered by Vik rant, 23 Apr '07 10:52 pm

 
  
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