It's time you thought about tax-saving investments; ELSS can be one option

About four-and-a-half months are left for the financial year to end. If you have not made tax-saving investments yet, it is time to think about them, instead of leaving matters for the last moment. One option you should definitely consider is equity-linked saving schemes (ELSS) or tax-saver funds. Section 80C deduction is available on them up to Rs 1.5 lakh.

Among tax-saving investments, they have the lowest lock-in period of three years only. And since they invest in equities, they have the potential to give even double-digit returns. As with all equity products, invest in them for the long-term. So, even when the lock-in gets over, do not feel obliged to pull your money out. Let each SIP complete at least seven years.