An ELSS is an acronym for Equity Linked Savings Scheme, which is a diversified equity mutual fund scheme.
This is a mutual fund equity scheme which means that a minimum of 65% of the fund’s assets will be invested in the stock market. This is a diversified fund that will invest across sectors and industries.
The main purpose that it serves is helping you in availing tax deductions under Section 80C of Income Tax Act, 1961. Amongst other alternatives available for availing deductions under Section 80C, ELSS is one of the advantage.
ELSS is the kind of investment that does not have any age limit for investing. One can start as early as possible or also those who are aged but willing to take some amount of risk with their investments in equity markets.
Advantages Of ELSS MF Schemes:
Rs.1.50 lacs eligible under 80C
Dividends in ELSS
schemes are tax Free
Invest in equity
while saving taxes
Our mf elss ideas:
|Scheme Name||Rating||3 Years Returns (%)||5 Years Returns (%)||7 Years Returns (%)||Invest|
Aditya Birla Sun Life Tax Relief 96 - Growth
Axis Long Term Equity Fund - Growth
DSP Tax Saver Fund - Growth
IDFC Tax Advantage (ELSS) Fund - Reg - Growth
Kotak Taxsaver - Reg - Growth
Source : MutualFundIndia & ValueResearch as on 19-July-2019
Past performance is not indicative of future returns