Mutual funds were number 1 in saving tax and giving returns! See how much was gained compared to FD, PPF, SSY, NSC

0
Image: PTI

Tax Saver Mutual Fund ELSS: You can also save tax by investing in mutual funds, which also have more scope of return.

Tax Savings Investment Scheme

There are many investments in the country right now to save tax under section 80C of income tax. To take advantage of tax exemption, where people put money in 5-year tax saver FD, PPF, SSY, NSC and ULIP. At the same time, you can also take advantage of this by investing in the ELSS scheme of mutual funds. While investing, instead of taking care of saving only tax, it should be seen that where you can get the best return on your money. However, when compared to the performance of previous days and the interest rates currently being received, the equity linked savings scheme ie ELSS has been at the top in this case. Talking about the last 3 years, which is a lock-in period for most ELSS, this segment has yielded more than 13 percent. At the same time, the returns of different funds have been up to 19 per cent.

Funds giving highest returns in 3 years

Mirae Asset Tax Saver Fund

3 Year Return: 19.29%
Value of 1 Lakh Investment in
3 Years : 1.70 Lakh Value of 10000 Monthly SIP in 3 Years: 4.39 Lakh

Axis Long Term Equity

3 Year Return: 18.60%
Value of 1 Lakh Investment in
3 Years : 1.67 Lakh Value of 10000 Monthly SIP in 3 Years: 4.38 Lakh

LIC Mutual Fund Tax Plan

3 Year Return: 15.58%
Value of 1 Lakh Investment in
3 Years : 1.54 Lakh Value of 10000 Monthly SIP in 3 Years: 4.27 Lakh

Tata India Tech Savings Fund

3-Year Return: 15.52%
Value of 1 Lakh Investment in
3 Years : 1.54 Lakh Value of 10000 Monthly SIP in 3 Years: 4.18 Lakh

BOI AXA Tax Advantage Fund

3-Year Return: 15.20%
Value of 1 Lakh Investment in
3 Years : 1.53 Lakh Value of 10000 Monthly SIP in 3 Years: 4.08 Lakh

(Source: Value Research)

See how much returns in other options

5 year tax saver FD

Return: 6.5% to 7.5%

PPF

Current interest rate: 7.9% annually

Sukanya Samriddhi Yojana

Current interest rate: 8.6% annually

NSC

Current interest rate: 7.9% annually

ELSS: other options may be better

Experts say that ELSS are equity linked schemes, hence their returns are not fixed. However, if the right fund is chosen, the expectation of better returns from other options increases. However, there is also the facility of investment through SIP, so instead of applying lump sum money one should do SIP. The lock-in period is 3 years for most schemes. However, if the funds are giving good returns, then instead of selling them after 3 years, one should keep investing in them for a longer period. Most of the fund houses are also offering online investment facility.

Previous articleUS-China trade deal: China will buy $ 200 billion worth of additional goods from the US in 2 years
Next articleVitara Brezza: Maruti’s new feat in just 4 years, sales cross 5 lakh

Leave a Reply