How much tax can be saved by investing in ELSS?
ELSS mutual funds are the only class of mutual funds eligible for tax deductions. You can save up to Rs 46,800 (tax deductions of up to Rs 1,50,000) a year in taxes by investing in ELSS, which is covered under Section 80C of the Income Tax Act, 1961.
Can we invest in mutual fund for 15 years?
15 x 15 x 15 rule of mutual funds is one of them. In this mutual funds SIP (Systematic Investment Plan) investment, an investor can become a crorepati by investing ₹15,000 per month for tenure of 15 years. This rule says that mutual fund return would be 15 per cent if an investor has such a long-term time horizon.
Which is the best tax saving ELSS?
The table below shows the top-performing ELSS mutual funds based on the past five year returns:
| Mutual fund | 5 Yr. Returns | Rating |
|---|---|---|
| SBI Tax Advantage Fund Series III Direct Growth | 27.64\% | NA |
| SBI Tax Advantage Fund Series III Regular Growth | 26.96\% | NA |
| Quant Tax Plan – Direct Growth Plan-Growth | 27.51\% | |
| Quant Tax Plan Growth | 24.9\% | NA |
Can I stop ELSS before 3 years?
Can ELSS be Withdrawn Within 3 years? The simple answer to this question is No. ELSS investments do not provide the option to withdraw the investment amount before the end of the 3-year lock-in period. In ELSS, investors are given fund units against their invested amount.
Which SIP is best for 15 years?
Best Long Term SIPs At A Glance
- ICICI Prudential Corporate Bond Fund.
- HDFC Money Market Fund.
- Edelweiss Greater China Equity Off-shore Fund.
- Franklin India Feeder – Franklin U.S. Opportunities Fund.
- PGIM India Global Equity Opportunities Fund.
- Nippon India Liquid Fund.
- Invesco India Liquid Fund.
- Kotak Liquid Fund.
Which SIP is best for 20 years?
Best SIP Plans for 10, 20 Year Investment in FY 21 – 22
- ICICI Prudential Technology Fund. To generate long-term capital appreciation for you from a portfolio made up predominantly of equity and equity-related securities of technology intensive companies.
- TATA Digital India Fund.
- Aditya Birla Sun Life Digital India Fund.
How much tax can I save by investing in ELSS?
By investing Rs 1.5 lakhs each year, one can save taxes up to Rs 46,800. After a period of three years, gain from ELSS funds will be treated as long-term gains and taxed at 10 per cent for the gains above Rs 1 Lakh.
When is the best time to invest in ELSS?
Investments in ELSS can be made at any time during the year. Most often, however, ELSS investments see a spike in popularity just before the tax filing season, as Indians scramble to reduce their tax liability by any means possible. Tax saving mutual funds get very popular around this time.
Which are the top 10 ELSS mutual funds for 1Y returns?
Top 10 Elss Mutual Funds Fund Name 1Y Returns Rating Fund Size (in Cr) Quant Tax Plan Fund 87.1\% 5 star ₹ 327 Mirae Asset Tax Saver Fund 60.2\% 5 star ₹ 8,739 Canara Robeco Equity Tax Saver 57.9\% 5 star ₹ 2,469 BOI AXA Tax Advantage Fund 65.9\% 4 star ₹ 490
What is the lock-in period of ELSS mutual funds?
ELSS Mutual Funds have a lock-in period of 3 years. What is the maximum tax benefit that can be availed by investing in ELSS every year? Under section 80C, one can avail tax benefit of upto ₹46,800 by investing upto ₹1.5 lakhs per year in ELSS.