Investing in <a href="https://www.mysiponline.com/mutual-funds/elss">ELSS Mutual Funds</a> is one of the best ways to save tax while growing your wealth. These funds come with a 3-year lock-in period and allow deductions under Section 80C, making them a popular choice for investors.
Why Should You Invest in ELSS?
1. Tax Benefits – Save up to ₹46,800 in taxes
2. Higher Returns – Invests in equities for better wealth creation
3. Shortest Lock-in Period – Just 3 years, compared to 5-15 years in other tax-saving options
4. Flexible Investment – Invest through SIP or lumpsum
Best ELSS Funds in 2024
Looking for the best ELSS funds? Here are the top 10 ELSS funds based on past performance:
1. Mirae Asset Tax Saver Fund
2. Axis Long Term Equity Fund
3. Canara Robeco Equity Tax Saver Fund
4. Quant Tax Plan
5. DSP Tax Saver Fund
6. Nippon India Tax Saver Fund
8. Kotak Tax Saver Fund
9. ICICI Prudential Long-Term Equity Fund
10. SBI Long-Term Equity Fund
11. HDFC Tax Saver Fund
How to Select the Best ELSS Mutual Funds?
1. Check past returns – Look at the 3-year and 5-year performance
2. Analyze risk – ELSS funds are equity-based, so check volatility
3. Fund manager expertise – Experience matters in managing risks
4. Diversification – Ensure the fund has a balanced portfolio
Conclusion
ELSS mutual funds are among the best tax-saving mutual funds with the potential for higher returns. Choosing from the top 10 ELSS funds can help you save tax while creating long-term wealth.
Which ELSS fund do you prefer? Share your opinions below!
Why Should You Invest in ELSS?
1. Tax Benefits – Save up to ₹46,800 in taxes
2. Higher Returns – Invests in equities for better wealth creation
3. Shortest Lock-in Period – Just 3 years, compared to 5-15 years in other tax-saving options
4. Flexible Investment – Invest through SIP or lumpsum
Best ELSS Funds in 2024
Looking for the best ELSS funds? Here are the top 10 ELSS funds based on past performance:
1. Mirae Asset Tax Saver Fund
2. Axis Long Term Equity Fund
3. Canara Robeco Equity Tax Saver Fund
4. Quant Tax Plan
5. DSP Tax Saver Fund
6. Nippon India Tax Saver Fund
8. Kotak Tax Saver Fund
9. ICICI Prudential Long-Term Equity Fund
10. SBI Long-Term Equity Fund
11. HDFC Tax Saver Fund
How to Select the Best ELSS Mutual Funds?
1. Check past returns – Look at the 3-year and 5-year performance
2. Analyze risk – ELSS funds are equity-based, so check volatility
3. Fund manager expertise – Experience matters in managing risks
4. Diversification – Ensure the fund has a balanced portfolio
Conclusion
ELSS mutual funds are among the best tax-saving mutual funds with the potential for higher returns. Choosing from the top 10 ELSS funds can help you save tax while creating long-term wealth.
Which ELSS fund do you prefer? Share your opinions below!
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