Tax Saving: 49% returns given in a year, tax discount will also be available, this scheme is icing on gold for taxpayers

New Delhi. There is now less than 3 months left to end the financial year 2024-25. By the way, it is advisable to plan at the beginning of the financial year to save tax. But, if you have not done this work yet, then you should not delay now. If you also want good returns on your investment along with saving tax, then you should put money in Equity Linked Savings Scheme (ELSS Mutual Fund). The special thing is that in the last one year, some ELSS mutual funds have given a return of up to 49%. Equity Linked Saving Scheme (ELSS) lock-in period is only 3 years old, which is less than the rest of the tax saving options. In Tax Saving FD, investors’ money remains 5 years and in public provident fund for 15 years.

Investment up to Rs 1.5 lakh in ELSS provides tax exemption under section 80C. Financial experts say that if the ELSS fund is performing well and the investment is flourishing, then investors should remain in the schemes for a long time to earn maximum returns. Lump Sum Investment can also be made in ELSS and money can also be invested through SIP. ELSS is a kind of mutual fund, which mainly invests in equity or equity oriented products. In this, returns are more than bank FD. Investment made in ELSS is subject to market risk.

These ELSS funds gave strong returns

Some ELSS funds have given excellent returns. Motilal Oswal ELSS Tax Sever Fund has given 49 per cent returns in a year, an average of 28 per cent in three years and 25.98 per cent in five years. The average return of one year of SBI Long Term Equipti Fund was 28.78 percent, three years of 24.78 percent and average return of five years 25 percent. ITI ELSS Tax Saver Fund has been returning 25.82 per cent, 21.65 per cent of three years and 20.17 per cent for five years.

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