Here you have good opportunity to invest in ELSS and avail the benefit of tax.
This is an equity diversified fund and investors enjoy both the benefits of capital appreciation, as well as tax benefits. An ELSS–Equity Linked Savings Scheme is like a Diversified Equity Fund. It is a type of mutual fund that qualifies for tax exemption under section 80C.
The Union Budget 2014 has increased the amount you can save under Section 80C of the Income Tax Act from Rs. 1 lakh to Rs. 1.5 lakh. That means you can save up to Rs. 45,000 in taxes!
Advantages of Mutual Fund ELSS Schemes over other tax saving instruments
1- Income Tax Benefit under section 80 C.2- Bright Chances of much Higher Returns.3- Bright chances of Tax free Dividends. 4- Returns are full exempted from Tax. 5- Relatively shorter lockin period of 3 years.6- Dividends are Tax Free.
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