Yes you heard it right, tax saving fund is known as ELSS Fund.
Let’s discuss in detail:-
PPF has a lock in of 15 years and generates returns around 7-8% p.a
ULIP is insurance and investment mixed product which has a lock in period of 5 years and generates similar return as PPF.
All the products is only available for tax deduction under sec 80C of income tax act and the limit is upto 1.5L.
For NPS you can additionally invest 50000 more.
ULIP? PPF? ELSS? or NPS?
– Pooja Patel, CFP