Sharon Diaries

  In today’s fast-paced world, managing your finances effectively is crucial, especially for students. One of the most beneficial banking options available is a zero-balance account . This type of account is designed to provide financial freedom without the burden of maintaining a minimum balance, making it particularly appealing for students. In this article, we will explore the features, advantages, and practical applications of a zero-balance account , tailored specifically for your needs as a student.   What is a Zero Balance Account?   A zero-balance account is a type of savings account that does not require you to maintain a minimum balance. This means you can deposit and withdraw funds as needed without worrying about penalties for falling below a specific amount. This flexibility can be especially helpful for students who may have limited income and variable expenses.   Key Features of a Zero Balance Account   No Minimum Balance Requirement : The most significant advanta

  Equity-Linked Savings Schemes (ELSS) are a type of mutual fund in India that offers the potential for high returns by investing in equities and provides tax-saving benefits. This unique combination makes ELSS a popular choice among investors seeking capital growth and tax savings under Section 80C of the Income Tax Act. If you're considering investing in ELSS funds, it's crucial to understand how they work and the key factors to remember. What are ELSS Funds? ELSS funds are equity-oriented mutual funds that invest primarily in stocks and equity-related instruments. They stand out because they provide exposure to equity markets while also offering tax deductions. As per Section 80C of the Income Tax Act, an individual can claim a deduction of up to ₹1.5 lakh by investing in ELSS funds in a financial year. ELSS funds are the only mutual funds eligible for tax deductions, making them a preferred option for tax-saving investments. Let's delve into the key aspects of ELS