Investors consider ELSS for tax benefits, long-term wealth creation; here’s what you need to know | – Times of India

It is tax planning season, and investors are considering the Equity Linked Savings Scheme (ELSS) for its dual benefits of capital appreciation and tax exemption. ELSS mutual funds provide tax exemption on investments up to Rs 150,000 under Section 80C of the Income Tax Act.
ET quoted Deepak Gagrani, Founder of MADHUBAN FINVEST, saying that investing in ELSS mutual funds over the long term is more profitable compared to other options available under section 80C. He considers ELSS as one of his top choices for tax savings and long-term wealth creation.
In 2023, the Indian equity benchmark delivered an impressive 23% return, outperforming all other asset classes. The rally in midcap and smallcap stocks led to 240 multibaggers, with market capitalisation of Rs 1,000 crore or more. However, markets have displayed volatility in the first few months of 2024.
Gagrani advises investors to focus on the time horizon rather than market timing for success in ELSS investments. He recommends opting for a systematic investment plan (SIP) to mitigate the impact of market timing on long-term returns.
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Mukesh Kochar, National Head of Wealth at AUM Capital, shares similar views and emphasizes the difficulty of timing the market. He suggests starting SIP/STP and making regular investments over a longer period. Kochar also highlights the importance of assessing an individual’s risk tolerance and investment horizon before investing in ELSS.
According to data published by the Association of Mutual Funds in India (AMFI) in January 2024, ELSS mutual funds witnessed inflows of Rs 533 crore, with total assets under management (AUM) at Rs 2,250,336 crore.
Kochar predicts that ELSS schemes will attract more investments and new folios in the future. However, he acknowledges that the category’s maximum exemption limit of Rs 150,000 may limit its immediate popularity.
Experts recommend considering the risk-adjusted returns and the risks taken by a fund to generate returns. They also suggest analyzing the fund’s standard deviation, Sharpe ratio, and beta. Adhil Shetty, Chief Executive Officer at Bankbazaar, highlights the importance of considering the fund’s investment objective, portfolio composition, and performance track record.

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