Investors often struggle to plan their tax-saving investments efficiently. ELSS (Equity Linked Savings Scheme) is one of the most popular options, offering both tax benefits under Section 80C and potential wealth growth. However, calculating returns, understanding lock-in periods, and aligning investments with your tax strategy can be confusing. This free ELSS Tax Saving Calculator will help you estimate your potential returns, optimize tax savings, and make informed investment decisions.
ELSS Tax Saving Calculator
Example Scenarios
Scenario 1: Investing Rs.5,000 per month for 5 years at 12% p.a. will grow your corpus to approximately Rs.4.12 lakh.
Scenario 2: Investing Rs.10,000 per month for 10 years at 10% p.a. will grow your corpus to around Rs.19.2 lakh.
Common Problems & Solutions
Problem: Many investors don’t know how much to invest to save taxes effectively.
Solution: Use this calculator to decide your optimal monthly contribution to maximize 80C tax benefits.
Problem: Uncertainty about returns.
Solution: Adjust expected return % in the tool to see different scenarios and plan conservatively.
Problem: Forgetting the 3-year lock-in.
Solution: Set reminders and plan ELSS as a medium-term investment.
Frequently Asked Questions (FAQ)
Q1: Can I withdraw ELSS before 3 years?
No, ELSS has a mandatory 3-year lock-in period. Withdrawals before this period are not allowed.
Q2: Does the calculator consider taxes on returns?
No, this calculator shows gross returns. ELSS returns are subject to capital gains tax of 10% if above Rs.1 lakh in a financial year.
Q3: How accurate are the calculations?
The calculator uses the standard SIP future value formula and gives approximate estimates based on consistent monthly investment and expected annual return.
Use this ELSS Tax Saving Calculator to plan your tax-saving investments intelligently. Adjust your monthly contributions and expected returns to see how your wealth can grow while saving taxes efficiently. Bookmark this page for future reference!
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