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Equity-linked savings scheme popularly known as ELSS are open-ended, diversified equity schemes offered by mutual funds in India. They offer tax benefits under the new Section 80C of Income Tax Act 1961. ELSS can be invested using both SIP(Systematic Investment Plan) and lump sums investment options. There is a 3 years lock-in period, and thus has better Liquidity compared to other options like NSC and Public Provident Fund. ELSS is considered one of the best tax saving instruments.
The best ELSS funds of recent years are:
- Franklin India Taxshield
- Reliance Taxsaver
- Axis Long term equity fund
- DSP Blackrock tax saver fund
- Birla Sun Life Tax Relief 96
Video Equity-linked savings scheme
See also
- National Pension System (NPS)
- Mutual fund
- Income tax in India
Maps Equity-linked savings scheme
References
Source of the article : Wikipedia
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