New Delhi. There is less than 3 months left for the financial year 2024-25 to end. Although it is advisable to plan at the beginning of the financial year to save tax. But, if you have not done this work yet, then you should not delay now. If you also want good returns on your investment along with saving tax, then you should invest money in Equity Linked Savings Scheme (ELSS Mutual Fund). The special thing is that in the last one year, some ELSS mutual funds have given returns up to 49%. The lock-in period of Equity Linked Savings Scheme (ELSS) is only 3 years, which is less than other tax saving options. Investors' money is locked in tax saving FD for 5 years and in Public Provident Fund for 15 years.

Investments up to Rs 1.5 lakh in ELSS are eligible for tax exemption under Section 80C. Financial experts say that if the ELSS fund is performing well and the investment is flourishing, then investors should stay in the schemes for a longer period to earn maximum returns. Lump sum investment can also be made in ELSS and money can also be invested through SIP. ELSS is a type of mutual fund, which mainly invests in equity or equity oriented products. The return in this is higher than bank FD. Investment made in ELSS is subject to market risk.

The benefit of lock-in is that
the money in ELLS is blocked for three years. This is a big benefit. Investing in a disciplined manner for a long period gives you the benefit of compounding which further helps in your wealth creation. The end of the lock-in period of 3 years does not mean that you will have to exit the fund, you can extend it further.

These ELSS funds gave great returns
Some ELSS funds have given excellent returns. Motilal Oswal ELSS Tax Saver Fund has given 49 percent return in one year, average 28 percent return in three years and 25.98 percent return in five years. SBI Long Term Equity Fund's average return in one year is 28.78 percent, in three years it is 24.78 percent and in five years it is 25 percent. ITI ELSS Tax Saver Fund's return in the last one year is 25.82 percent, in three years it is 21.65 percent and in five years it is 20.17 percent.