Tax-saving mutual funds gave up to 60% returns in 1 year! Will the trend continue?
The best performing ELSS or tax saving mutual funds scheme has given a whopping return of 60% and the worst performer in the category has given 11.5% returns in the same time period
The high returns in tax saving schemes are due to the rapid reversal in the stock markets last year
ELSS or tax saving mutual funds have been one of the most favored tax saving options under Section 80C of the Income Tax Act due to the shortest lock-in period of three years. Along with tax saving, ELSS funds provide inflation-beating returns and help in wealth creation for your long-term goals. ELSS puts an end to an investor s search for a liable tax-saving investment option as ELSS is known to generate the highest returns under the tax-saving category. If we look at the returns generated by the majority of ELSS schemes last year, returns over 35% are clearly stated, says Palka Chopra, Senior Vice President, Master