Want to get the benefit of tax saving with bumper returns? this could be a great option

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ELSS Mutual Funds: In this era of investment, everyone is adopting it to save tax. Most people choose Section 80C of Income Tax for tax exemption, which is given under many government schemes. Under this, a rebate of up to Rs 1.5 lakh is given in a financial year. However, if you are looking for a tax saving option along with good returns on investment, then ELSS mutual funds can be a good option for you.

Tax exemption can be claimed under Section 80C of Income Tax under Tax Saving Mutual Funds or Equity Linked Savings Schemes (ELSSs). Under ELSS, you can save tax up to a maximum of Rs 1.5 lakh every year. Also gives you good returns along with other tax savings.

Lowest lock-in time

Equity Linked Savings Scheme (ELSS) Mutual Fund comes with a lock-in period of 3 years, while Public Provident Fund has a lock-in period of 15 years and National Savings Certificate has a lock-in period of 5 years. Schemes like PPF and NSC give guaranteed income, but this is not the case with ELSS funds, it depends on the market. If you are investing in ELSS mutual funds for the first time, then you should invest only after understanding all its aspects and risks.

What is the average return in ELSS Mutual Fund?

ELSS Mutual Fund has given good returns in the long term. 7.1 percent return is being given in Public Provident Fund, while 7 percent interest is being given in NSC. On the other hand, the average return of ELSS Mutual Fund has been more than 15%. Let us know which ELSS mutual fund schemes have given good returns in the last few years.

These are the top ELSS in terms of returns

Quant Tax Plan Direct Plan has given a return of 39.71% in the last three years. Has given a return of 22.46 per cent in five years and 21.39 per cent in 10 years.