Who Should Invest in Tax saving Funds?
Any individual or HUF came under higher tax bracket and if you have enough knowledge and risk appetite and long-term financial goal, you can consider investing in ELSS funds to save taxes. Investments in ELSS funds qualify for tax deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.
ELSS is best suitable for young investors in the initial years of their professional career can invest with a long-term horizon and as they have time on their side to unleash the power of compounding to the fullest to enjoy high returns while saving on taxes

Advantages of investing in Tax saving funds

At this point most people know the advantages that come with investing in Tax saving funds. They are tax efficient because of their low turnover.There are five primary reasons that investors should consider using Tax saving funds for their own investment strategies.
1. Lock-in period of only three years, yes it is very less compaired to other tax saving avenues.
2. ELSS or Tax saving mutual funds have them more potential to offer higher returns than PPF or NPS.
3. You can invest as much as your capacity, yes there is no maximum limit to invest.
4. Earnings are taxed only at 10% of the gains.
5. Professionally managed funds.
6.You Can Save Rs.46,800 in Taxes with Tax Saving Fund.
7.Average returns around 15% in last 3 years, better than Fixed Deposit or PPF.
Disadvantages of ELSS Mutual Funds
1. ELSS is market linked thats why its more risky than PPF & NPS.
2. ELSS delivered good returns, if you have invested above five years.
3. Tax saving mutual funds charge their fund management cost.
4. Most of fund house can not accept investment from citizens of U.S. and Canada.

There are so many companies and so many types of Liquid funds in market like Aditya Birla Sun Life Tax Relief 96, Axis Long Term Equity Fund, Tata India Tax Savings Fund, Invesco India Tax Plan, Kotak Tax Saver, DSP Tax Saver Fund, ICICI Prudential Long Term Equity Fund, Franklin India Taxshield Fund, IDFC Tax Advantage Fund, L&T Tax Advantage Fund etc.
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