What is the best Elss Fund for tax saving as well as maximum return

Ans: Stagger it in 10 to 12 months and the funds that may be considered are as under:

- Axis Long Term Equity Fund Regular Growth

- Parag Parikh Tax Saver Fund - Regular Plan-growth

Ans: Hi Ashish, it is better to invest in multiple schemes to create a balanced portfolio. Assuming you want to invest Rs.1,50,000 in ELSS to avail the tax savings, you can consider investing in:

1-Samco ELSS Tax Saver Fund: Rs.60,000
2-Axis Long Term Equity Fund: Rs.60,000
3-HDFC Tax Saver Fund: Rs.30,000

Ans: For tax-saving purposes, ELSS (Equity Linked Savings Scheme) funds are an excellent option as they offer tax benefits under Section 80C of the Income Tax Act while providing the potential for long-term wealth creation through equity investments. When selecting an ELSS fund, consider factors such as historical performance, fund manager expertise, expense ratio, and investment strategy. Look for funds with a consistent track record of delivering competitive returns over the long term. It's advisable to consult with a financial advisor or conduct thorough research to choose the ELSS fund that aligns with your investment goals and risk tolerance.

Ans: Here's an overview of the mentioned funds:

SBI Balanced Advantage Fund: This fund follows a dynamic asset allocation strategy, aiming to provide capital appreciation and income generation over the long term. It adjusts its equity and debt allocation based on market conditions, offering downside protection during market downturns. It's suitable for investors seeking a balanced approach to investing with lower volatility.
SBI Equity Hybrid Fund: As an equity-oriented hybrid fund, SBI Equity Hybrid Fund invests primarily in a mix of equity and debt securities to provide capital appreciation and income generation. It's suitable for investors with a moderate risk appetite looking for a blend of growth and stability in their investment portfolio.
Quant ELSS Tax Saver Fund: This fund falls under the ELSS (Equity Linked Savings Scheme) category, offering tax benefits under Section 80C of the Income Tax Act. Quant ELSS Tax Saver Fund primarily invests in equity and equity-related instruments with the potential for long-term capital appreciation. It's suitable for investors looking to save tax while participating in the potential growth of the equity market.
PGIM India ELSS Tax Saver Fund: Similar to Quant ELSS Tax Saver Fund, PGIM India ELSS Tax Saver Fund is an equity-linked savings scheme aiming to generate long-term capital appreciation while providing tax benefits. It invests predominantly in equity and equity-related securities across market capitalizations. It's suitable for investors seeking tax-saving opportunities with exposure to the equity market.
Before investing in any fund, it's essential to consider factors such as your investment goals, risk tolerance, investment horizon, and past performance of the fund. Additionally, consult with a Certified Financial Planner to ensure that the selected funds align with your overall financial plan and objectives. Keep in mind that past performance is not indicative of future results, and diversification is key to managing risk in your investment portfolio.