Tax Saving Investments Under 80C - Best ELSS Mutual Funds

The rising inflation coupled with tax deductions equal to a shrinking wallet. However, the Income Tax Act, under Section 80C offers income earners, tax reliefs with a number of tax saving instruments like Public Provident Fund (PPF), National Savings Certificate (NSC), etc., that are safe tax saving options.

But what are the chances that you get to save tax and earn high returns while you are at it?

ELSS helps you do just that.

Let Us First Understand How Section 80C Helps

As per the Income Tax Act, Section 80C helps a taxpayer retain up to a maximum of Rs 1,50,000 from his total income for one financial year. Therefore, if a taxpayer wants to save tax on Rs 1,50,000 or less they are required to show an investment of the same. The Equity Linked Savings Scheme (ELSS) Mutual Fund is specifically designed for this purpose.

What Is ELSS?

ELSS is a diversified equity mutual fund that not only helps save tax but gets you huge returns on your investment as well (at least 65% of the assets in ELSS are invested in the equity market).
As compared to other tax saving instruments like National Savings Certificate (6 years), bank deposits (5 years), and Public Provident Fund (15 years), ELSS has the lowest lock-in period, i.e., 3 years.

Also Read: ELSS vs SIP

What Are The Advantages Of ELSS?

1. Diversified Portfolio to minimize risks and maximize profits
2. Professional Management
3. Tax benefit on amount up to1.5 lakh
4. Potential for long-term returns
5. Lowest lock-in period
6. Capital gains and dividends are tax-free
7. Minimum investment of just Rs 500

Top Recommended Funds By Choice

The Top ELSS Funds that give lucrative returns of above 75% in a span of 3 years while saving your hard-earned money. Some even cross the 90% mark.

View the best ELSS funds recommended by us at Best ELSS Tax Saving Mutual Funds

We Help You Make Smart Investments

Choice incorporates an algorithm devised by our expert research team that carefully analyses your goals and risk appetite to balance your mutual fund investments. This is followed by continuous review, tracking, and management of your portfolio to ensure fulfillment of your investment goals through minimum risks and maximum returns.

Compare and invest in our best tax saver mutual funds that are eligible for saving taxes under Section 80C of the Income Tax Act and can earn returns of more than 75% in 3 years.