Top 5 Tax Saving ELSS Mutual Funds

Axis Long Term Equity Fund(G)

Mutual Fund 5 Star

Returns 3Y:  16.20%

ABSL Tax Relief '96-Direct (G)

Mutual Fund 5 Star

Return 3Y: 16.91%

Invesco India Tax Plan (G)

Mutual Fund 5 Star

Return 3Y: 17.57%

Mirae Asset Tax Saver Direct (G)

Mutual Fund 5 Star

Return 3Y:  24.06%

Aditya Birla SL Tax Plan(G)

Mutual Fund 5 Star

Return 3Y: 15.9%

  • Past Performance Is No Guarantee of Future Results

BENEFITS

  • Start investing with as low as Rs.500 per month.
  • Funds are selected based on the market performance over the last 3 to 5 years.
  • Zero fees for all services such as account opening, investment as well as redemption.

Why ELSS is Better to Save Tax

ELSS (Equity Linked Saving Scheme) is a special type of equity fund, which gives a tax deduction up to Rs.1,50,000 under the section 80c of the income tax. There are various reasons to choose ELSS to save Tax.

FD 7.50%
PPF 8.0%
ELSS Fund 24.28%
  • ELSS Return mentioned above is for top performing funds
  • Lowest Lock-in-Period.

ELSS has lowest lock-in-period of all the tax saving schemes. All other tax saving schemes are in the range of 3 to 15 years. But ELSS has a lock-in-period of 3 years.

  • Investing through the Systematic Investment Plan:

ELSS provides you the opportunity to invest through the systematic investment plan. It allows you to invest a fixed amount of money every month over the long term in small instalments.

  • Diversify and Switch funds:

ELSS provides you the best features of diversifying your portfolio. It gives an edge over the other tax saving instrument such as fixed return investment. The fund itself is built upon investment in the various instrument such as debt and equity.

Fixed Deposit Vs PPF Vs Vs NSC Vs NPS Vs ELSS Fund Return

 

Fixed Deposit Vs PPF Vs ELSS Fund Return

Why Invest in ELSS with Gulaq

  •  Seamless Onboarding & Execution:

We cut out Paper and Jargon. We do everything digitally – from KYC to execution. Your experience with Gulaq will be simple, easy to understand, hassle-free and all-online. (By the way – NO SALES CALLS)

 

  • Quantitatively Optimized

We are committed to using our decades of experience for your benefit. Profoundly researched mutual funds. Rooted recommendations. Market tested. Reliable advice for you from expert’s algorithms.

 

  • Transparent and Fair

No nasty surprises! No commissions, we sell only direct, zero commission mutual funds. Our incentives are always the same as yours. We always optimize your portfolio for the best returns. We have got you covered.

 

  • Secure and Private

Complete privacy and security of data. With the promise of never sharing your data with any third party for advertising, marketing or for any other reason without your consent.

How it works?

  • Choose a Mutual Fund(s).

You can select the best performing tax saving mutual funds from the list.

  • Give your details and select your amount.

Make sure to keep your Pan and Bank Details with you. Select the amount you want to invest.

  • Invest online and get investment proof:

Make sure to pay instantly with net banking and receive a confirmation receipt on email.

Frequently Asked Questions

Is ELSS the best tax saving option and Why?

Yes, ELSS is one of the best tax saving options. Firstly, due to returns and secondly, due to the lock-in-period. ELSS funds can give much higher returns as compared to other schemes under 80C of the Income Tax act. It has the lowest lock-in-period of all the schemes under section 80C of just three years.

What is ELSS Fund?

ELSS fund is one type of funds which invests at-least 80% of the asset in equity and equity-related investment. It comes with a lock-in-period of 3 years and qualifies for tax exemption under section 80c of the income tax act up to Rs. 1,50,000 lakhs.

How does it help me save tax?

By investing in ELSS funds, you became liable to get a tax deduction under the section 80c of Income Tax up to Rs 1,50,000 lakhs.

How can I invest in ELSS Mutual Funds?

  • Login with your credentials in Gulaq account.
  • Choose the fund you want to invest.
  • Fill-in the amount you want to invest.
  • Make the payment through online banking.
  • After it’s done, we will send you an email regarding confirmation of the payment.

What are the best ELSS funds?

The listed funds are some of the best-rated ELSS funds on Gulaq. You can choose to invest one or more from the list.

Will there be any charges if I invest in ELSS funds?

No, we do not charge anything for investing in ELSS funds. But Mutual fund houses do charge an annual fee called as the expense ratio. This range from 1% to 2.5% of the annual amount.

For which year I will get the Tax benefit?

You will get the tax benefit only the year, you started the ELSS Fund in. The benefit will be the amount invested in the ELSS Fund in that year only.

When can I withdraw money from ELSS funds?

You can withdraw money from an ELSS fund after 3 years. Before that period, your investment is subject to the lock-in-period of ELSS Funds.

Are ELSS funds return taxable?

No, there is no tax levied on the returns earned for an ELSS Fund. But in case if the gains are more than one lakh after a year in that financial year, then it comes under taxable zone.

What investment proof will I get if I invest in ELSS funds?

You will get an email from Gulaq, acknowledging about your investment in the ELSS Fund. This will be an official confirmation used for future references.

Will my money come to my account automatically after three years?

No, your amount will not come directly into your account. To get the amount, you need to redeem all the amount or parts of it.

What is the lock-in period?

Lock-in-period is the time duration for which the mutual fund units cannot be redeemed or transferred to another person.

How much returns will I get in ELSS funds?

As ELSS funds invest in equities, the returns are not fixed. They depend upon the performance of the stock market. Historically, they have provided avg. returns between (12- 17%) per annum.

How much should I invest in ELSS funds?

Well, the answer is simple. You can start investing from a small sum of Rs 500 to any sum. But to get the tax benefits under section 80c, it’s better if you invest up to Rs 1.5 lakh.

How can I track my ELSS funds with Gulaq?

You can track the progress of your investment in any ELSS fund on Gulaq by visiting the “Portfolio” section in your Gulaq account.

When should I invest in ELSS funds?

You can invest before 31st March in any financial year to get the benefits of section 80C.

Is it possible to withdraw before three years?

No, it’s not possible to withdraw your amount before 3 years.

Is investing in ELSS funds safe?

ELSS funds are mainly equity market linked funds. They are therefore subjected to market risks.

How many ELSS funds should I invest in?

Each investor has a different financial condition and may require a different investing approach. Different funds have different investment principles. You should invest depending upon your investment style. But avoid investing more than 4-5 ELSS funds.

What is the maximum tax benefit that can be availed by investing in ELSS every year?

The maximum tax benefit that can be availed by investing in ELSS each year be about Rs. 1.5 lakh.

Why to invest in ELSS?

ELSS is one of the best tax saving options under 80C. It provides you greater returns compared to other schemes under the same bracket.

Who should invest in ELSS?

Any Indian citizens who are above 18 years are eligible to invest in ELSS.

Is there any charge associated with ELSS?

Yeah, you need to pay a little sum in the form of the expense ratio.

Should I choose SIP or lump sum?

It all depends upon your Investment style to choose whether a SIP or Lumpsum.

Can ELSS be switched?

No, you can’t switch the ELSS.

Are ELSS funds open-ended?

Yes, ELSS funds are open-ended.

Can ELSS be in the joint name?

ELSS can be open in a joint name.

Will ELSS come under LTCG (Long Term Capital Gains) tax?

Yes, ELSS comes under LTCG tax.

Where to show ELSS in ITR?

ELSS can be shown in section 80C of ITR.

Why ELSS is better than PPF?

ELSS is better than PPF due to attractive returns. PPF provides an average return. Apart from that, ELSS has lowest lock-in-period of all.

What is ELSS direct plan?

 In the case of ELSS direct, you directly buy from the company (AMC)

What is the ELSS growth plan?

ELSS growth plan is basically a mutual fund scheme in which the fund doesn’t pay out anything to the investor in form of dividend, but on the contrary, all the profits are reinvested in the fund.

How ELSS returns are calculated?

ELSS mutual funds are Equity funds that invest in stock markets hence the returns are also calculated based on returns of those stocks.

ELSS is tax-free under which section.

ELSS is tax-free under section 80C of the Income Tax act.

Is ELSS better than ULIP?

Both are two different schemes. Hence, ELSS is better for the short-term investment, charges are less, and lock-in-period is quite low. So, it totally depends on one’s investment objective and risk profile.

Can NRI customers buy ELSS funds?

Yes, NRI customers can buy ELSS funds but there are certain conditions they have to fulfil before they can invest.

Are ELSS funds Multi-cap?

 Yes, ELSS funds are multi cap and have a lock-in-period of 3 years.

ELSS VS FD:

ELSS is one of the mutual fund schemes in which 80% of fund money is invested in equities. It has the lowest lock-in-period of 3 years and give returns between 12-20%. Tax Saver Fixed deposit is a risk-free financial instrument in which investor deposit a sum for a 5 Year period and gets fixed returns.

ELSS vs Large Cap:

ELSS is equity linked saving scheme which provides an income tax deduction up to Rs 1,50,000. Large cap is equity fund which invest a large portion of their corpus in companies with large market capitalization. So, basically large cap provides stable, moderate returns to their investors.

Why invest in ELSS fund with Gulaq?

Gulaq provides you the simplest and an easiest way to invest. It has no commission, no account fees, no hidden charges as well as you can be investment ready in less than 30 seconds. Our platforms provide the most user-friendly experience.

Do you want to save tax now?

Investment Ready in 30 Seconds.

Gulaq provides you the simplest and an easiest way to invest. It has no commission, no account fees, no hidden charges as well as you can be investment ready in less than 30 seconds. Our platforms provide the most user-friendly experience.

Attention Investor
Investments in Mutual fund & Securities Market are subject to market risks. Please read the scheme information and other related documents carefully before investing. Past performance is not indicative of future returns. Please consider your specific investment requirements before choosing a fund or designing a portfolio that suits your needs. Terms and conditions of the website are applicable.

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