Best tax saving mutual funds or ELSS to invest in May 2026

Taxpayers can save income tax up to Rs 1.5 lakh annually by investing in Equity Linked Savings Schemes (ELSS). These tax-saving mutual funds offer potential for higher long-term returns and have a shorter three-year lock-in period compared to other 80C options. While carrying higher risk, ELSSs serve as an entry point for equity investing.