ELSS Calculator: Plan for Effective Tax Saving
Investment Type
Lump Sum Investment
₹ 50000
Investment Duration
5 years
Expected Return Rate
12.00%
Expected Returns (Maturity Amount)
₹ 0
Invested Amount
₹ 0
Returns Earned
₹ 0
💡 Max Tax Savings: ₹0 under Section 80C.
Wealth creation and tax savings are two perks that Equity Linked Savings Schemes (ELSS) provide. You may determine your possible returns and learn how to maximise your investments under Section 80C of the Income Tax Act by using our ELSS calculator. This tool makes it easier to assess ELSS investments, regardless of your long-term objectives or immediate tax advantages.
What is an ELSS Calculator?
An ELSS calculator is an online tool intended to assist you in estimating the returns on your ELSS fund investments. It also underlines the tax advantages that Section 80C of the Income Tax act offers. You can use the calculator to efficiently organise your finances and gain insights into your prospective wealth building by inputting information such as your investment amount, duration, and estimated rate of return.
How to Calculate ELSS Returns?
Our ELSS calculator makes it quick and straightforward to calculate your ELSS returns. You may calculate the projected growth of your investment and the potential tax savings by submitting a few essential details. The calculator can be used as follows:
1.
Enter the investment amount:
Indicate how much you intend to invest in ELSS funds. You can calculate for a one-time lump sum or regular contributions through SIPs.
2.
Choose the Duration of the Investment:
Decide how long you want to keep your investment. Keep in mind that ELSS funds have a three-year lock-in period.
3.
Enter the anticipated return rate:
Based on past fund performance or your own estimations, add the expected yearly return percentage.
4.
Calculate:
The calculator will determine the potential wealth you could create over the selected tenure.
Taking into account the power of compounding over time, this tool gives you a clear image of your possible returns.
Advantages of Using the ELSS Calculator
The ELSS calculator is a powerful resource for anyone wishing to maximise their investments in Equity Linked Savings Schemes :
You may plan your investments with confidence and strike a balance between tax efficiency and wealth generation by utilising the ELSS calculator.
Formula to Calculate ELSS Returns
Understanding the formula behind the ELSS calculator gives you a better grasp of how your investments grow over time. The calculator uses the compound interest formula to estimate returns:
ELSS Returns Formula:
FV = P ×(1 +rn)(n × t)
Where:
- FV = Future Value (Total amount at maturity)
- P =Investment amount (lump sum or periodic contribution)
- r =Annual rate of return (in decimal form)
- n =Number of times the interest is compounded in a year (usually 1 for ELSS)
- t =Time (Investment duration in years)
Tax Savings Calculation:
For tax savings, the calculator considers:
- A maximum deduction of ₹1.5 lakh per year under Section 80C.
- Contributions exceeding ₹1.5 lakh are not eligible for further tax benefits.
You may rapidly assess possible profits and tax savings by using the ELSS calculator instead of doing calculations by hand.
Other useful calculators
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Estimate the investment value required to build a retirement corpus and maintain your lifestyle post-retirement.
Mutual Funds Calculator
Project the future value of your mutual fund investments based on intended monthly contributions and tenure.
CAGR Calculator
Measure the Compound Annual Growth Rate of your investment portfolio to benchmark its performance.
Lumpsum Calculator
Analyze the potential future returns from one-time lumpsum investments in mutual funds and other assets.
RD Calculator
Determine the maturity amount for recurring deposits based on monthly contributions and interest rates.
FD Calculator
Calculate the returns and maturity value of fixed deposits with customizable interest rates and durations.
NPS Calculator
Understand the breakdown of lumpsum corpus and monthly pension with investments in National Pension Scheme.
SIP Calculator
Plan your investments in a Systematic Investment Plan and visualize the growth of your corpus over different time periods.
ELSS Calculator FAQs
Your Questions, Answered
ELSS Calculator can seem complex, but we’ve got you covered. Our comprehensive FAQ section answers common questions like:
What information must I enter into the online ELSS calculator?
In order to utilise the calculator, you must provide:
- The amount you intend to invest
- The length of your investment.
- the anticipated rate of return every year.
Does the calculator offer Section 80C tax-saving estimates?
Yes, up to the ₹1.5 lakh annual cap, the calculator calculates the tax savings you may be eligible for under Section 80C.
Can the calculator be used to change the estimated rate of return?
Of course. Based on past fund performance or your own estimates, you can enter a predicted rate of return.
Does the ELSS calculator take the state of the market into account?
No, the calculator uses your inputs to produce a static estimate. Changing market conditions are not dynamically taken into consideration.
What errors should I steer clear of when utilising the ELSS calculator?
- Overestimating Returns: Projections may become overconfident if unreasonably high return rates are entered.
- Ignoring Inflation: Ignoring how inflation will affect your long-term objectives.
- Ignoring Tenure: Believing that investments with shorter tenures will provide returns comparable to those of long-term investments.
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