Best tax Saving Investment scheme ELSSs
Tax saving mutual funds or Equity linked Saving Schemes (ELSS) help you to save income tax under section 80C of the Income Tax Acts . You can invest a maximum of Rs 1.5 Lakh in ELSSs and claim tax deductions on your investments every financial year. Are you Interested? Before procedding further, you should first familiarise yourself with ELSSs. Tax Saving mutual funds or ELSSs invest in stocks. Therefore, they have very high risk. You should be aware of this aspect, expecially if you are a first-time investor in equity mutual funds. Compared to your usual investments like Public Provident Fund, ELSSs do not offer gauranteed returns. You may even suffer losses in a bad market. why should you invest in ELSSs? One, These schemes have the potential to offer higher returns. As you know, these schemes invest in stocks. And stocks typically offer higher returns over a long period of time. For example, the ELSS category offered an average return of around 15% over 10 years. ...