What is the best ELSS investment for 2021?

What is the best ELSS investment for 2021?

Best ELSS or tax saving mutual funds to invest in 2022.

  • Axis Long Term Equity Fund.
  • Canara Robeco Equity Tax Saver Fund.
  • Mirae Asset Tax Saver Fund.
  • Invesco India Tax Plan Fund.
  • DSP Tax Saver Fund.

Which tax Saver ELSS is best?

The table below shows the top-performing ELSS mutual funds based on the past five year returns:

Mutual fund 5 Yr. Returns 3 Yr. Returns
Union Long Term Equity Fund Growth 16.54\% 24.52\%
IDFC Tax Advantage (ELSS) Fund – Regular Plan – Growth 19.15\% 23.61\%
Canara Robeco Equity Tax Saver Fund 20.51\% 23.56\%

Are tax saving mutual funds safe?

Mutual funds, also known as Equity Linked Savings Scheme (ELSS), are great tax-saving instruments under Section 80C of the Income Tax Act, 1961. This section allows you to claim benefits from your taxable income if you put your money into certain investments.

When can ELSS be redeemed?

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One such condition is that investments in ELSS are subject to a lock-in period of three years from the date of allotment of ELSS units. The ELSS units can be redeemed, transferred, assigned or pledged only on expiry of the lock in period of 3 years,” said Dr. Suresh Surana, Founder, RSM India.

Is Tata Ethical fund ELSS?

The Tata India Tax Savings Fund is an open-ended equity linked tax saving scheme (ELSS) with a compulsory lock-in period of three years. The fund has a 3-year lock in period that helps the fund management in taking a long term view and lends stability to performance.

How do you pick ELSS funds?

How to select the right ELSS fund and create wealth

  1. Market Cap Composition Of The Portfolio.
  2. Understand The Concentration Risk And Over-diversification.
  3. Check The Expense Ratio Of The ELSS Fund.
  4. Check The Basic Parameters.
  5. Compare The ELSS Fund With Other Equity Funds You Have Invested.
  6. Finally.