Sec 80C of the Income Tax Act allows you to claim deductions of up to 1.5 Lakh by investing in certain investments. ELSS or Equity Linked Savings Scheme of Mutual Funds are one of the best tax saving cum long-term wealth creation investment tools under Sec 80C. ELSS invests predominantly in shares of the companies.
You can save up to Rs.46,800/-
Lock in period for 3 years. Compared to other tax saving instruments, tax saving mutual fund is having the lowest lock in period.
Consider a fund called Franklin India Taxshield
This fund has started on April 10, 1999
It is one of the oldest tax saving mutual funds in India.
Since Inception the fund has given 19% returns.
If you have invested in a Systematic Investment Plan (SIP) of Rs.10,000/- from inception , the market value of your investment now ( as on Nov 30 th ,2018) is 2 Crores!!!
Schedule a call today to know the best tax saving mutual funds (ELSS) to invest in 2019