ELSS Calculator
What is ELSS scheme?
An ELSS fund or an equity-linked savings scheme is the only kind of mutual funds eligible for tax deductions under the provisions of Section 80C of the Income Tax Act, 1961. You can claim a tax rebate of up to Rs 1,50,000 and save up to Rs 46,800 a year in taxes by investing in ELSS mutual funds.
Tax-saving schemes in India with potential returns
| Investment | Returns | Lock-in Period | Tax on Returns |
|---|---|---|---|
| 5-Year Bank Fixed Deposit | 4% to 6% | 5 years | Yes |
| Public Provident Fund (PPF) | 7% to 8% | 15 years | No |
| National Savings Certificate | 7% to 8% | 5 years | Yes |
| National Pension System (NPS) | 8% to 10% | Till Retirement | Partially Taxable |
| ELSS Funds | 15% to 18% | 3 years | Partially Taxable |
