Many mutual fund investors are worried about the performance of Equity Linked Saving Schemes or tax saving mutual fund schemes in the last year. They are asking their advisors whether it makes sense to invest in ELSS to save taxes under Section 80C this year.
The ELSS category has offered negative returns (-8 per cent) in the last year. Investments in ELSS qualify for tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
