Invest in ELSS (Tax Saving Mutual Funds) for saving ₹45,000 in Taxes
Lowest Lock-in of 3 Years
2x higher interest rates than FD/PPF
Returns Taxable @10% if gains are > ₹1 lakh
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
|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||Partially Taxable|
Disclaimer: Mutual fund investments are subject to market risks. Please read the offer documents carefully before investing.
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For any investment related queries, please reach out to us on 080-67458744 or email@example.com
Invest in Best Tax Saving Funds with ClearTax
Avg. 5yr return
2x Money in
|Aditya Birla Sun Life Tax Relief 96||4||23.7%||5,032 Cr||Equity|
|DSP BlackRock Tax Saver Fund||4||22.0%||3,905 Cr||Equity|
|Axis Long Term Equity Fund||4||21.8%||16,161 Cr||Equity|
|ICICI Prudential Long Term Equity Fund(Tax Saving)||4||18.5%||5,034 Cr||Equity|
Are ELSS and Mutual Funds the same?ELSS and mutual funds both belong to the same family. The difference is that in an ELSS there is a lock in period of 3 years. But there’s nothing like a lock in period for a mutual fund.
Is ELSS Taxable?Long term capital gains over ₹1 lakh are taxable at 10% interest rate.
How can I invest in ELSS?You can either make a lump sum investment or a monthly investment(SIP) depending on your financials.
Who should invest in ELSS?ELSS is more suitable for people who are looking at long term investment with tax saving on their mind as it would provide good returns. People who are near retirement should be careful as it involves a higher risk compared to other schemes.
How much tax can I save through ELSS?According to Section 80C, a deduction upto Rs.1.5 lakh is allowed from your annual income.This 1.5 lakh may include investments like PF, ELSS and NPF.
Are ELSS investments risky?Yes. ELSS investments are risky as the returns are based on the equities which are volatile in nature. However, best performing funds have shown capabilities to generate high returns over a long period of time.This is something, which a PPF and FD fail to achieve.
Should I change my scheme after the lock in period?It is advised not to jump between schemes after the lock in period as a long term investment like 5-7 years in a single scheme would generate more returns. Since Equity Linked Saving Scheme depends on the equity market, it is hard to predict the returns. If your funds are still underperforming, while the market is blooming you may consider to change your scheme.