Best tax saving mutual funds or ELSS to invest in May 2024 indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Tax -saving mutual funds or Equity Linked Savings Schemes (ELSSs) help you to save income tax under Section 80C of the IT Act. You can invest a maximum of Rs 1.5 lakh in ELSSs and claim tax deductions on your investments every financial year. Are you interested?
Tax saving mutual funds or ELSSs invest in stocks. Therefore, they have a very high risk. You should be aware of this aspect, especially if you are a first-time investor in equity mutual funds. Compared to your usual investments like Public Provident Fund or National Savings Certificate, etc, ELSSs do not offer guaranteed returns. You may even suffer losses in a bad market.
Tax saving mutual funds or ELSSs invest in stocks. Therefore, they have a very high risk. You should be aware of this aspect, especially if you are a first-time investor in equity mutual funds.