New Delhi. If you are a taxpayer, then this is useful news for you. As we all know that most of the taxpayers invest in many options for tax saving. The best option in this is considered to be Equity Linked Savings Scheme ie ELSS (Equity Linked Saving Scheme) in Mutual Fund Schemes. Explain that ELSS investment amount is invested in the equity market. Let us know the details about it…
What is ELSS?
ELSS is an equity mutual fund category, in which tax exemption is available under section 80C of the Income Tax Act on investments. The best part is that it has a lock-in period of only 3 years.
Returns up to 60 per cent in 1 year
Last year ELSS Mutual Fund has given an average return of around 25 per cent. The best performing scheme has given a return of 60 per cent and the worst performing scheme in the category has given a return of 11.5 per cent in the same period. Palka Chopra, Senior Vice President, Master Capital Services, said that if we look at the returns of ELSS schemes in the last year, the returns have been more than 35 percent.
You can continue investing in
Equity Linked Savings Scheme after the lock-in period of 3 years is over, even after the lock-in period is over. Investing in ELSS can be done through fund houses or mutual fund distributors. Instead of taking a decision on your own, you should take the advice of an expert.
