- Mutual Funds
- NRI
- elss mutual funds for nri
elss mutual funds for nri
Invest in the best mutual funds recommended by Scripbox that are scientifically and algorithmically selected that best suit your needs. Let’s take a look at the top mutual funds to invest this year. Be it long-term, short-term, tax saving or your emergency needs. We have you covered.
Scripbox algorithm recommends 2-4 funds for investment for an investment asset class such as large cap, diversified, liquid etc. When you invest for an objective, the algorithm suggests the appropriate asset class and funds.
ABOUT ELSS MUTUAL FUNDS
ELSS mutual funds are open-ended equity mutual funds. They invest the majority of their assets in equity and equity-related instruments. ELSS funds help save tax and also provide an opportunity to grow the investment. These mutual funds are approved as tax saving funds to boost the habit of long term investment and saving.
Funds recommended by Scripbox for 2021
Mirae Asset Tax Saver Fund (G)
Tax Saving
Recommended
Top Ranked
₹ 5,647 Cr
Fund Size
16.9%
3Y returns
Motilal Oswal Long Term Equity Fund (G)
Tax Saving
Recommended
Top Ranked
₹ 1,885 Cr
Fund Size
8%
3Y returns
Mutual Funds
DSP Tax Saver Fund (G)
Tax Saving
Top Ranked
₹ 7,332 Cr
Fund Size
13.3%
3Y returns
Axis Long Term Equity Fund (G)
Tax Saving
Top Ranked
₹ 25,508 Cr
Fund Size
15.6%
3Y returns
Nippon India Tax Saver ELSS Fund (G)
Tax Saving
Top Ranked
₹ 10,244 Cr
Fund Size
0.7%
3Y returns
BOI AXA Tax Advantage Eco fund (G)
Tax Saving
Top Ranked
₹ 368 Cr
Fund Size
13.7%
3Y returns
Aditya Birla Sun Life Tax Relief 96 Fund ELSS U S 80C of IT ACT LSP (G)
Tax Saving
Top Ranked
₹ 12,595 Cr
Fund Size
8.8%
3Y returns
NRI Mutual Funds Questions & Answers
NRI Mutual Funds Questions & Answers
Frequently asked questions
Can NRI invest in ELSS?ELSS is a Unit Linked Insurance Plan which is not a restricted plan. An NRI is eligible to invest in, provided that the NRI updates their KYC prior to investing in the funds. Unlike Indian residents, NRIs might not be able to benefit from tax savings on this scheme in the same way.
How do I start ELSS?In order to start ELSS, you need to study first your taxable income and your tax slab so that you can decide which scheme suits you more, after that you can easily start it online be accessing the ELSS website and fill the details of your bank account and your desired ELSS Plan
Is it worth investing in ELSS for an NRI?Equity-linked saving schemes (ELSS) is eligible for a tax deduction under Section 80C of the Income Tax Act, 1961. An investor can claim an investment of up to ₹ 1.50 lakh as a deduction from taxable income in India.
This deduction is available to both Indian residents and NRIs. If an NRI has a taxable income from house property or other sources in India, then he/she can invest in ELSS and claim tax benefits.
Can ELSS be stopped?ELSS can be stopped in the same way you can stop any SIP according to specific terms. If you started ELSS online you can stop it in the same way by accessing the website and request to cancel your current ELSS plan.
Frequently asked questions
ELSS is a Unit Linked Insurance Plan which is not a restricted plan. An NRI is eligible to invest in, provided that the NRI updates their KYC prior to investing in the funds. Unlike Indian residents, NRIs might not be able to benefit from tax savings on this scheme in the same way.
In order to start ELSS, you need to study first your taxable income and your tax slab so that you can decide which scheme suits you more, after that you can easily start it online be accessing the ELSS website and fill the details of your bank account and your desired ELSS Plan
Equity-linked saving schemes (ELSS) is eligible for a tax deduction under Section 80C of the Income Tax Act, 1961. An investor can claim an investment of up to ₹ 1.50 lakh as a deduction from taxable income in India.
This deduction is available to both Indian residents and NRIs. If an NRI has a taxable income from house property or other sources in India, then he/she can invest in ELSS and claim tax benefits.
ELSS can be stopped in the same way you can stop any SIP according to specific terms. If you started ELSS online you can stop it in the same way by accessing the website and request to cancel your current ELSS plan.
Get started with investing today
Invest in the best mutual funds recommended by Scripbox that are algorithmically selected that best suit your needs.