We answer a viewer question on tax benefits for systematic investment plan (SIP) for equity linked savings scheme (ELSS).
Edited Highlights
0:44 We answer a viewer question on the tax benefits or tax deductions one gets when one invests in ELSS through SIP
2:33 You get tax deductions of upto Rs 1.5 lakh per annum for tax saving investments like ELSS
2:39 Before deciding to invest in ELSS for tax saving, account for existing items like provident fund, home loan principal repayment for which you avail tax deduction
2:50 There might be tax saving commitments such as tuition fees and life insurance premiums for which you have claimed tax deductions under Section 80C
3:47 Figure out the net amount available to you for tax deductions after your existing commitments
