India
NRI
ELSS or Equity Linked Savings Schemes are diversified equity mutual funds that help you deal with the burden of saving taxes while offering the joys of creating wealth over the long run. A diversified mutual fund equity scheme means that a minimum of 65% of the fund’s assets will be invested in the stock market and across different sectors and industries.
The main purpose of ELSS schemes is that it helps you avail tax deductions under Section 80C of the Income Tax Act, 1961, wherein you can invest a maximum of Rs 1,50,000 in ELSS schemes and save up to Rs. 46,800 in taxes annually.
ELSS is the kind of investment that does not have any age limit for investing. One can start as early as possible or at a later age if they are willing to take some amount of risk with their investments in equity markets.
Advantages Of ELSS MF Schemes
-
Investments upto
Rs.1.50 lacs eligible under 80C -
Dividends in ELSS
schemes are tax Free -
Lower
Lock-In Period -
Can invest
through SIP -
Invest in equity
while saving taxes -
Compounding &
Higher Returns
MF ELSS INVESTMENT IDEAs
| Scheme Name | Rating | 3 Year Returns (%) | 5 Year Returns (%) | 7 Year Returns (%) | Invest |
|---|---|---|---|---|---|
|
AXIS LONG TERM EQUITY FUND - GROWTH |
 |
15.06 | 16.35 | 20.25 | Invest Now |
|
KOTAK TAX SAVER FUND - GROWTH |
|
12.51 | 16.54 | 18.24 | Invest Now |
|
MIRAE ASSET TAX SAVER FUND - GROWTH |
|
15.75 | 22.46 | - | Invest Now |
Source :Rating by Value Research & Returns as on Feb 10, 2021