Jan 25, 2017 3 min read

Top 3 ELSS Funds to Invest This 68th Republic Day

This blog will let you know the best ELSS Mutual Funds schemes to buy this Republic day 2017.
26th January 1950, one of the most important days in the Indian history, as it was the day when the constitution of India came into force. It was the day when India became a truly sovereign state. Every year we celebrate this day with grace and proud and resolute to make India a more powerful and developed country.

Being a citizen of India, it is your responsibility to cooperate in the overall economic development of the country. By contributing a certain amount in the form of tax, you can help the economy grow higher into a developed nation. The government of India utilizes the tax revenues for implementing various plans and policies which are designed to make the country stronger. So instead of getting indulged into the illegal activities like tax evasion, you must try to cooperate with the government by giving your valuable cooperation.

Although government never desires to fetch your hard-earned money with wrongful means, they only ask for a certain amount on your excess income. For that, they have prepared norms and provisions under the Income Tax Act. You must plan your taxes according to them and accomplish your responsibility of being an Indian.

However, section 80C of the Income Tax Act provides for tax management principles and allows you to save on your taxes. The ELSS(Equity-Linked Saving Scheme) is one of the most effective solutions for managing your taxes in the best manner. Here are the top ELSS Mutual Fund Schemes which you must opt to manage your taxes without committing illegal tasks.

  1. DSP BlackRock Tax Saver Fund :- Being a consistent performer in the ELSS category, DSP BlackRock Tax Saver Fund is one of the best funds to invest for tax saving. It is ranked ‘First’ in its category and has outperformed the set benchmark to provide greater returns to the investors. Along with the tax saving in the three year lock-in period, the fund also offers tremendous returns of 23.90% which result in capital appreciation. This fund has a moderate risk profile and thus highly secure.
  2. HDFC Long Term Advantage Fund :- The scheme is a good performer in the ELSS Fund category since its inception and has offered up to 44.3% absolute returns to the investors with a conservative style of risk. It has been ranked ‘Third’ in its category and yielding annualised returns of 18.40% in the three-year investment. Apart from tax benefits, you can generate wealth simultaneously with equity investments of this plan.
  3. Franklin India Taxshield Fund :- It is an open-ended Equity Linked Savings Scheme(ELSS) with an objective to provide medium to long-term growth of capital along with income tax rebate under section 80C. It is ranked ‘Third’ in the ELSS category by CRISIL and offering 21.5% and 18.0% returns in the three- and five-year investments. Thus, you can invest your hard-earned money in this plan to save on taxes and build wealth.

We know that investments help in building a nation in the most effective manner. And your savings and investments would be a great contribution to developing India stronger. ELSS invests the money in equity stocks and help in contributing to economic development.

So this is the time, on this 68th Republic Day, when you can give your contribution to nation building by investing in the ELSS Funds and give way to making your country a dream place to live. Furthermore, it would assist you in managing your taxes as well and reduce the tax liability along with wealth creation.

MySIPonline is the platform where you can give wings to your financial dreams. If you wish to benefit the society without compromising your benefits by making ELSS investments, you must get associated with us right away.