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Invest in ELSS (Tax Saving Mutual Funds) for saving Rs 45,000 in Taxes

An Equity Linked Savings Scheme (ELSS) is a mutual fund which invest primarily in equity market giving you higher interest rate. ELSS is specially created to give taxpayers the dual benfit of saving taxes under Sec 80C with the lowest lock-in period.
Why ELSS is the best Tax Saving Option

Lowest Lock-in of 3 Years

2x higher interest rates than FD/PPF

Tax-free Returns

No maximum limit on investment

Option to invest Monthly (SIP)

Invest as low as Rs 1000 per month

Best option for long-term wealth

Will give inflation-beating returns

Comparison between ELSS & other Tax Saving Funds
Now there are many other savings schemes that help you build your wealth, such as FD, PPF and NSC to name a few. But the returns from these schemes are taxed. This is where ELSS stands out with its dual-benefit – its returns are generally higher and tax-free. This coupled with a mere lock-in period of 3 years is all the more reason for you to invest in ELSS now.
Investment Returns Lock-in Period Tax on Returns
5-Year Bank Fixed Deposit 6% to 7% 5 years Yes
Public Provident Fund (PPF) 7% to 8% 15 years No
National Savings Certificate 7% to 8% 5 years Yes
National Pension System (NPS) 8% to 10% Till Retirement Partially Taxable
ELSS Funds 15% to 18% 3 years No
As a tax-paying citizen, the Section-80 of the Indian Tax Act allows you some breather – a deduction of up to Rs. 150,000 from your total annual income. This limit was enhanced in the 14-15 fiscal. Yet, many taxpayers find a major chunk of this getting consumed by mandatory deductions.

1.5 Lakh Investent in ELSS will double in 5 years

Lowest lock-in period of 3 years

Disclaimer: Mutual fund investments are subject to market risks. Please read the offer documents carefully before investing.

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Invest in Best ELSS Tax Saving Mutual Funds
FAQs (Frequently asked Questions)
  • Are ELSS and Mutual Funds the same?
    Many think ELSS are synonymous with mutual funds. This is probably because both serve to spread an investor’s funds and ELSS is one type of mutual fund. Other mutual funds are more liquid in nature compared to ELSS. The mandatory lock-in period (3 years) differentiates ELSS from other funds, and it is the only mutual fund that allows tax rebate under Section 80-C.
  • How can I invest in ELSS?
    You can invest the amount one-time 9Lump-sump) or monthly (SIP) depending on your financials
  • What things to consider before investing In ELSS?
    1. Have a financial goal: Be it owning a home, funding children’s education or saving for retirement – know what you are saving for. Next, figure out a rough estimate (no one can know the exact amount, of course) and set a timeline for each goals. Decide on the periodic payment based on this.
    2. Choose wisely: Study the market and understand the variation trends, which cannot be done overnight. You can rely on a financial advisor, a distributor or a reputed fund house for this. Do not consider performance alone as other invisible parameters like market fluctuations and consistency of the fund also come into play.
  • How much money can I save in tax by investing in ELSS
    As per Indian Tax Act : a deduction od Rs 1,50,000 from your annual income is allowed and if you invest them in ELSS you can save upto RS 45,000.