ELSS funds come with a mandatory three-year lock-in period and they have the potential to offer superior returns than the other investment options available under Section 80 C
27-Oct-2015 •Research Desk
I am planning to invest ₹50,000 in Equity Linked Saving Schemes (ELSS) to save taxes under Section 80 C. Should I put the money in a New Fund Offer (NFO) of a tax saver fund or a top-performing ELSS fund.
- Mayil Vahanan
Tax planning mutual fund schemes or ELSSs are the best of tax-saving option under section 80 C of the Income Tax Act. These schemes come with a mandatory lock-in period of three years and they have the potential to offer superior returns than the other investment options available under Section 80 C.
It is always better to invest in an existing tax planning scheme with a proven track record than an untested fund that is launching its NFO.
Here is a list of our best tax saving schemes.