The time horizon of my investment is between three-to-four years and I have a moderate risk appetite. I have exhausted the benefits accruable under Section 80C and want to know whether I can invest in an equity-linked savings scheme (ELSS) even if tax benefits are not a consideration? I feel that some of these schemes are tried and tested and hence, more reliable than an entirely new fund.
-SP Gupta
You can surely invest in an ELSS even after exhausting your Rs 1 lakh exemption under Section 80C. And it is also true that there are some ELSS funds that have produced returns far in excess of some of their other diversified equity counterparts.
Having said that, the matter of a three-year lock-in still remains to be considered by you. Given that today's investor is spoilt for choice in the diversified equity category, you need not risk your money by locking it in for three years. One should always have the benefit of flexibility of redeeming funds at one’s convenience.
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