The monthly SIP of tax Saving Mutual Fund increases from ₹10,000 to ₹14.55 lakhs over seven years.
Presently, Equity Linked Savings Scheme (ELSS) is known as one of the finest investment tools.
Moreover, ELSS helps an investor synchronize with the markets and enables them to cut down the income tax.
Section 80C of the Income-tax act states, “an investor can claim income tax benefit upto Rs1.5 lakh in a single Fiscal Year.”
Furthermore, Mutual Funds like ELSS can optimally help save income tax and bring along substantial returns.
The substantial incline of Tax Saving Mutual Funds’ monthly SIP!
During last year, the ELSS Mutual Funds enhanced the return o SIP investments by 5.36%.
Furthermore, the last two years have given an absolute return of 34% on SIP investments.
Moreover, ELSS tax-saving mutual funds provided an annual return of 25.50% in the last three years.
However, this Tax Saving Mutual Funds scheme brought 45% returns on SIP investments.
During the last five years, these Tax Saving Mutal Funds provided investors with a substantial return of 18.50%(SIP) and 58.50%(annually).
How much return does an investor gain by investing 10,000 per month?
During the last seven years, the ELSS tax-saving Mutual funds scheme provided massive returns to its investors.
Moreover, an investment of 10000 per month provided substantial returns:
- In last 1 year: Rs10,000 to Rs1.26laks
- In last 3 year: Rs10,000 to Rs 5.20 lakhs
- In last 5 years: Rs10,000 to 9.47 lakhs
Perhaps, that’s how an investment of Rs10,000 grew upto Rs14.55 lakhs in the last seven years.
Furthermore, there are various other ELSS Tax Mutual Fund schemes for investors from all over the globe,
- IDFC Tax Advantage (ELSS) Direct
- PGIM Ind ELSS Tax Saver Direct ]
- Quant Tax Plan Direct.
The ELSS Tax Saving Mutual Funds enabled even one-time investors to collect colossal returns on their Rs10,000 monthly SIP.