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SIP in ELSS can smoothen the tax saving process
Published On , 16 Apr 2018 By ET Wealth
The strategy ensures no end-of-the-year burden on finances, also inculcates investment discipline
Tax payers often rush to invest in tax-saving instruments during the last few months of the financial year. Financial advisors and planners say that this is not the best way to invest in financial products to save on taxes. The process should start at the beginning of the financial year and continue through the year. Such a strategy ensures there is no extra burden on finances at the end of the year and such a year-round process helps one to inculcate investment discipline. ELSS floated and managed by mutual fund houses are among the best Tax Savings options available in the market. The best option, they say, is starting a systematic investment plan (SIP) in an ELSS.
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