Reader's corner: Mutual Funds

I am 42. Out of the Rs 1.5 lakh limit under Section 80C, my home loan and Employee Provident Fund combined get me around Rs 1.2 lakh deduction. For the remaining Rs 30,000, should I go for equity-linked savings scheme (ELSS), Public Provident Fund (PPF) or National Pension Scheme (NPS)?

NPS, definitely not. Ordinarily people derive a lot of comfort from investing into PPF, and rightly so. It is a good investment and one of the few guaranteed types of investments. However, ELSS creates a lot of wealth over a long period of time and personally I wish that ELSS had