I am planning to start investing in Equity Linked Savings Scheme (ELSS) from this financial year. Please advise me regarding the better performing funds. Also, what steps should I take after completion of lock-in period - should I stop investing and search for another fund or to carry on with the same fund?
- Arindam Das
Investments in Equity Linked Savings Schemes (ELSSs) or tax saving mutual fund schemes qualify for a tax deduction of up to ₹1.5 lakh in a financial year under Section 80C of the Income Tax Act. ELSSs have a three-year lock-in period. However, it is not necessary to sell them after the lock-in period is over. You can hold on to the scheme and continue to invest in it as long as it is performing well.
Here is our list of top-rated tax saving schemes.
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