InvestorQ : Please suggest ELSS investment for 2020 for tax saving?
Khushi Patel made post

Please suggest ELSS investment for 2020 for tax saving?

Answer
image
seema Upadhyaya answered.
12 months ago
Follow
One has to be very careful about choosing any investment scheme since chasing returns is not really an effective exercise and it is almost impossible to keep pace with the top performers throughout the investment journey. Every scheme has its own ups and downs and one should consider enough time-frame before deciding for any scheme.

Investors should keep a few things in mind before investing in any ELSS (Equity-Linked Saving Scheme): 
One should prefer investing in ELSS only and only if they have a high-risk appetite to invest in stocks or equity, as these can be very risky and volatile over time. So, do not invest in ELSS because it has higher returns associated with the long-run. 
Do not invest only for the lock-in period of three years. It can go higher than that and will surely fetch better returns in the time horizon of 5-8 years or as long as the scheme is performing well, in comparison with the lock-in period of 3 years, being the least in tax-saving schemes.

Here’s a list of ELSS that are suggested based on the market analysis and which are performing well as yet and are expected to maintain that performance in the future:

  • DSP Tax Saver Scheme
  • Motilal Oswal Long-term Equity fund
  • Invesco India Tax Plan
  • Axis Long-term Equity Fund
  • Mirae Asset Tax Saver Scheme

However, these are just suggestions and one needs to stay updated with the performance of these schemes from time to time.
7 Views

image
AR Kadam answered.
12 months ago
Follow

You can consider

Axis Long Term Equity Fund

Invesco India Tax Plan

DSP Tax Saver Fund

6 Views

image
12 months ago
Follow

Axis Long-term equity fund

6 Views