Equity Linked Saving Schemes (ELSS) or tax planning mutual fund schemes are ideal to save taxes up to Rs 1.5 lakh under Section 80C. Provided you have a higher risk tolerance and an investment horizon of five to seven years.

ELSS as Best tax-saving option because of shortest mandatory lock-in period of three years.

Recommended funds in this Portfolio

FUND NAME 1st Year RETURN 3rd Year AMOUNT 5th Year AMOUNT Allocation Amount
IDFC Tax Advantage (ELSS) Fund Growth
Aditya Birla Sun Life Tax Relief 96 Growth
L&T Tax Advantage Fund Growth
*Estimation is based on historical return of the funds and done to facilitate informed decision making for investors. Actual results may vary. Mutual Fund investments are subject to market risk. Please read the respective offer documents carefully before investing.