Don't invest more than 80C limit­­ in equity-linked savings schemes

Since the scheme has a lock-in period of three years, any additional investment in equities should be done through open-end funds

Income Tax, tax
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As we enter the last quarter for making tax-saving investments, most investors would be looking for the right instruments to invest in under Section 80C. If you ask an investment advisor, he will tell you that equity-linked savings schemes (ELSS) are perhaps the best option. ELSS schemes, or tax-saving mutual funds, provide tax benefits under Section 80C up to a maximum limit of Rs 1.5 lakh. They also provide long-term wealth creation possibilities since the money is invested in equities, which have a greater likelihood of fetching inflation-beating returns. “Being an ...