9 best ELSS funds to invest in 2024; check here
tax deduction of up to ₹1.5 lakh in a financial year by investing in specific instruments, including ELSS investments. Investors often express a strong interest in leveraging this section's benefits as soon as their first salary is credited.
If you're aiming to reduce your tax liability this financial year, consider initiating investments in these tax-saving mutual funds. Investing in an ELSS entails a lock-in period of three years, during which selling your investments is not allowed.
However, additional investments can be made at any time. Additionally, any income and profits realized after three years will be treated as long-term capital gains (LTCG) and taxed at a rate of 10 per cent if the investment or return value surpasses ₹1 lakh.
Given the abundance of ELSS funds available, investors often face a dilemma when attempting to determine which investment would not only maximize their earnings but also contribute to tax savings. While numerous factors influence the selection of ELSS funds for investments, a significant number of investors tend to rely solely on the past 10-year returns when making their choices.Name of the fund houseName of the fund10-year returns (in %)Quant Mutual FundQuant Tax Plan25.25Bank of India Mutual FundBank of India Tax Advantage Fund19.10Bandhan Mutual FundBandhan ELSS Tax saver Fund19.03DSP Mutual FundDSP Tax Saver Fund18.84JM Mutual FundJM ELSS Tax Saver Fund18.75Kotak Mahindra Mutual FundKotak ELSS Tax Saver Fund18.63Invesco Mutual FundInvesco India ELSS Tax Saver Fund18.29Canara Robeco Mutual FundCanara Robeco ELSS Tax Saver Fund17.26SBI Mutual FundSBI Long-Term Equity Fund16.87 Many investors, particularly those new to equity investing, often find investing in ELSS funds to be a
. Read more on livemint.com
