Should you continue to invest in ELSS even after retirement?
I retired after working for nearly four decades in June this year. Should I continue to invest, especially in an equity-linked savings schemes (ELSS ) to save taxes?
-Suresh Pai, Bengaluru
Congratulations on calling it a day after four decades of work life. Just because you have retired is no reason for you to not put your monies into equities or into a tax saving instrument. Unlike several other tax saving options under Section 80C of the Income Tax Act, the ELSS is the one with the shortest lockin period of three years. Having invested in these earlier, you know their other advantages, primarily the ability to beat inflation and no taxation on the gains at the end of the lock-in. If you are looking for ELSS to invest in, you should consider Franklin India Taxshield, Reliance Tax Saver or Axis Longterm Equity to invest, which feature in our OLM Elite list.