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Comments on 80C Investment Planning for Financial Year 2011-2012 (ELSS )Displaying 1 - 10 of 12 in 2 pages
SohilWrote on 07 August 2012Sorry to say answer is no Renu.First grand parents investing on behalf of grand children is not allowed.Parent for children is allowed .But than too parent cant make seperate investment on self name. 
RenuWrote on 07 August 2012can a grandparent get a tax benefit if they invest in an ELSS in the name of their grandchildren with their name under guardian ?
SohilWrote on 16 September 2011Some doubts fellow friends asked me on pm whose details i wish to share. Q-1:Why am i emphasizing on DTC in this article.WHy not do my investment and forget without thinking about rules which still havent passed. Ans::ELSS have a 3 year lock in(in sense once you put your money under no circumstances you can withdraw the money until 3 years passes).Now whenever when DTC will come you wont get any tax benefit once one invest in ELSS plus on top of that lock in your money for 3 years just to get decent return.One on its place can invest in Equity funds which is much liquid in form and after 1 year even the returns will be tax free as LTCG on Equity funds is zero.When in both cases equity fund and ELSS no tax saving allow than it makes no sense lock-in your money for 3 years.As track record speaks ELSS and equity funds return are almost similar.And most important part is the liquidity of the money. Q-2 Why i am saying about buying on fall days than pre determined SIP? Ans::Sip is nothing but something like ELCS(electronic clearing service).Money gets invested automatically into the ELSS on per-determined date.Now suppose SIP date is fixed as 1st,7th or 15th or whtever.Now suppose ITs 7th and suppose markets were getting beating from 2 nd to 6th of the month and now some very big rally came on 7th and on that pre-determined dates you invested in market.Now its quite obvious.Because of this positive rally the share price increased and nav also increased and you gets units much less than what you would have got on investing from 2nd to 6th of the month.The difference wont be much but hardly a single percent. Now suppose of the 12 sip in a year 7 days the market were positive on those dates hence considering even half percent difference.IN a year calculation the difference goes upto 3.5%. Hence using my way your return will be 3-4% or even more positive comparing to per-determined SIp dates.As all investments were made on negative market days hence nav was lower hence units you might have got is much. Only downside is you need to keep a track of the market.
SohilWrote on 24 August 2011Your present investment say this year will count as deduction in next year .But investment made in dtc regime(whenever it sets in as said now 2012-2013 F.y ) in ELSS wont count as deduction. 
CA Mihir ShahWrote on 24 August 2011Hey can anyone tel me what is the tax impact on current ELSS in DTC? As in if i invest now whether the same benefits would be available in DTC? Pls let me know. Thanks in Advance CA Mihir Shah |
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