Millennials And ELSS
Skip to Main Content Home Knowledge Center Why should Millennials look at ELSS? Why should Millennials look at ELSS? Millennials are a very important demographic segment in India, constituting nearly half of our workforce. Growing up in post liberalization lifestyle and spending habits of millennials are different compared to previous generations. The data from Registrars and Transfer agents (RTAs) show that around 47% of new mutual fund investors in FY 2018 -19 were millennials. One of the important financial goals for millennials is tax saving and Mutual Fund Equity Linked Savings Schemes (ELSS) can be one of the best tax saving investment options for millennials. Why is tax planning important for millennials? Most millennials are in the early stages of their careers., millennials can save up to Rs 46,800* in taxes every year by investing up to Rs 1.50 lakhs in specified schemes under Section 80C of the Income Tax Act 1961. This is a significant amount of savings in the ...