What if I invest in best ELSS mutual funds

If you invest Rs 2,000 a month in ELSS mutual funds for 3 years, your annual investment of Rs 24,000 (Rs 2,000 x 12 months) will qualify for deduction under Section 80C of The Income Tax Act 1961.

Please also note that since ELSS mutual funds have a lock-in period of 3 years, each SIP instalment will be locked for 3 years. Please read more about ELSS funds - here https://www.advisorkhoj.com/miraeasset...

You can assume an annual return of approx 12%, and therefore, you can have a corpus of approx Rs 87,000 by investing Rs 72,000 over 3 years period. However, this corpus will further grow as each instalment will be locked-in for 3 years and you will not be able to redeem all the units.

For getting best returns out of any equity mutual fund, my suggestion is that one should hold onto the investments as long as possible, but minimum 5-6 years is must.

To choose best ELSS funds, may I suggest you to refer to this link? https://www.advisorkhoj.com/mutual-funds-research...

Hope the above is helpful ! Thanks !!