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IIT-Kharagpur invents microneedle for painless shot

All it took for inspiration to develop a painless injection was a mosquito bite. Yes, a mosquito uses a unique method to deliver a painless bite and researchers at IIT Kharagpur wondered if they could make an injection that mimicked the mechanical action involved. While most of us think that a mosquito bite hurts, in reality, the irritation is due to chemicals in its saliva. After three years of research, IIT-Kgp, along with the Tokai University of Japan, has invented this novel injection that uses a microneedle to extract blood or deliver drug painlessly by using the same suction-based pressure that a female mosquito uses to suck blood. The diameter of the needle is just 30 micro metre. Besides others, this injection will especially benefit diabetes mellitus patients as blood tests are critical for its diagnosis and management. These patients have to check their blood gl...
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Equity Linked Savings Scheme (ELSS)

What are Equity Linked Savings Scheme (ELSS) funds?

Equity Linked Savings Scheme (ELSS) funds are tax saving mutual funds. Majority of the funds are invested in equity schemes.

Why to invest in ELSS?

Investments in ELSS or tax-saving mutual fund schemes qualify for tax deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. ELSS come with a mandatory three years lock-in period. Tax free on returns.

What is the return expected in ELSS?

Normaly 12-15% return expected. Maximum 18+% as per the last 3 years records.

About Equity Linked Savings Scheme (ELSS)

Criteria Value
Interest 12-15% (Expected)
Rate of Return (Appx) 18% (Maximum)
Lock-in period 3 (Years)
Account Holder All
Account Opening Restriction No Limits
Maximum Account Opening Age None
Risk Percentage 100%
Place of Purchase Online Market
Tax On Return Returns will be taxable at a rate of 10% if gains are over and above ₹ 1 lakh.
Investment Mode One Time Investment / Systematic Investment Plan (SIP)
Loan Against Not Available
Minimum Investment (PA) ₹ 500
Maximum Investment (PA) No Limits
Tax Exemption (PA) ₹ 1.5 lakhs
Premature Withdrawal Not Available

Pros of ELSS:

  • Returns are higher than the other investment options.
  • No maximum limit to invest.
  • Only 3 years locking period among tax saving options.
  • Earnings are 100% tax free.
  • Compounding interest gives better earning.
  • SIPs investment option more flexible.
  • Stop/start SIPs at any time as you whish.

Cons of ELSS:

  • Premature withdrawals are not allowed.
  • No guaranteed returns because ELSS funds are subject to equity market related risks.
  • Difficult to find out which fund to invest.
  • High amount of documentation like KYC compliance.
  • Investments are not accepted from NRIs in US and Canada.

ELSS Returns

Invest ₹ 1000 Per Month. 15 % Interest.

Years Invested Amount Maturity Amount
3 Years 36000 45116
5 Years 60000 88575
10 Years 120000 275217
15 Years 180000 668507
20 Years 240000 1497239
25 Years 300000 3243530
30 Years 360000 6923280

Invest ₹ 2000 Per Month. 15 % Interest.

Years Invested Amount Maturity Amount
3 Years 72000 90231
5 Years 120000 177149
10 Years 240000 550434
15 Years 360000 1337014
20 Years 480000 2994479
25 Years 600000 6487059
30 Years 720000 13846559

Invest ₹ 5000 Per Month. 15 % Interest.

Years Invested Amount Maturity Amount
3 Years 180000 225578
5 Years 300000 442873
10 Years 600000 1376085
15 Years 900000 3342534
20 Years 1200000 7486197
25 Years 1500000 16217648
30 Years 1800000 34616398

Invest ₹ 10000 Per Month. 15 % Interest.

Years Invested Amount Maturity Amount
3 Years 360000 451155
5 Years 600000 885745
10 Years 1200000 2752171
15 Years 1800000 6685068
20 Years 2400000 14972395
25 Years 3000000 32435296
30 Years 3600000 69232796

Invest ₹ 12500 Per Month. 15 % Interest.

Years Invested Amount Maturity Amount
3 Years 450000 563944
5 Years 750000 1107181
10 Years 1500000 3440213
15 Years 2250000 8356334
20 Years 3000000 18715494
25 Years 3750000 40544120
30 Years 4500000 86540995

Returns on ₹ 1000,₹ 5000,₹ 10000 and ₹ 12500 Per Month

Years ₹ 1000 ₹ 5000 ₹ 10000 ₹ 12500
3 Years 45116 225578 451155 563944
5 Years 88575 442873 885745 1107181
10 Years 275217 1376085 2752171 3440213
15 Years 668507 3342534 6685068 8356334
20 Years 1497239 7486197 14972395 18715494
25 Years 3243530 16217648 32435296 40544120
30 Years 6923280 34616398 69232796 86540995

Conclusion

Now you have the understanding of Equity Linked Savings Scheme (ELSS). You can choose the best option which will fit for you. You can leave the comments if you have any queries. Thank you so much for reading and have a great day.

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