Following Sebi s recent order to use uniform nomenclature for tax saving mutual funds, prominent ELSS have changed their names to help investors in identifying schemes in the same league.
Roshi Jain, Senior Fund Manager – Equities, is part of the new face of HDFC MF. Roshi believes that the medium- to long-term outlook for corporate India is robust. Rather than timing markets, she advises systematic investing.
How to choose the right ELSS fund
January 23, 2021
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Hasty decisions may save tax in the short term, but can prove to be damaging in the long run If you choose the old tax regime, it is ideal to start your tax planning investments at the beginning of the financial year. But most take it easy until the last one-two months of the year.
This results in spur-of-the-moment decisions such as investing in equity-linked savings schemes (ELSS) when it may not suit your risk profile or, even when it does suit, choosing the scheme without doing any homework.
ELSS funds are equity MF schemes that provide tax benefits for investments of up to ₹1.5 lakh a year under Section 80C of the Income Tax Act. The schemes have a three- year lock-in.