Equity Linked Saving Schemes (ElSS) Vis-A-Vis Fixed Income Schemes under the Income Tax Act 1961Surbhi Srivastava*
Research Scholar, Department of Commerce and Business Administration, University of Allahabad, India
- *Corresponding Author:
- Surbhi Srivastava
Department of Commerce and Business Administration
University of Allahabad, Allahabad-211002, India
E-mail: [email protected]
Received Date: December 13, 2016; Accepted Date: February 07, 2017; Published Date: February 17, 2017
Citation: Srivastava S (2017) Equity Linked Saving Schemes (ElSS) Vis-A-Vis Fixed Income Schemes under the Income Tax Act 1961. J Bus Fin Aff 6: 245. doi: 10.4172/2167-0234.1000245
Copyright: © 2017 Srivastava S. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
The main focus of each ruling government has always been to improve the level of savings and investments in the economy. The government of India is always concerned about the capital formation by common people through making time to time suitable amendments in tax laws and to promote financial inclusion. There are variety of investment options available in the market but a best investment option can be something which is beneficial to the investor from the point of view of good returns as well as tax saving. This paper compares the Equity Linked Saving Schemes over other fixed income investment options in the light of Income Tax Act 1961.