ELSS Tax Saving Calculator

About the ELSS calculator

Equity Linked Savings Schemes (ELSS) are diversified equity mutual funds that qualify for Section 80C deductions under the old tax regime. This calculator projects the future value of an ELSS SIP and estimates the tax saving created by eligible contributions.

Use it when you are comparing tax-saving options such as ELSS, PPF, EPF, and tax-saving FDs, or when you want to see how much of your 80C limit a monthly SIP uses. It is most relevant for investors who can accept equity risk and a minimum 3-year lock-in for each investment unit.

The projection is an estimate, not a guaranteed return. The calculator applies the expected annual return at a constant monthly rate and assumes the selected tax bracket and regime stay unchanged.

1. 1Enter your monthly SIP: Add the amount you plan to invest every month in an ELSS fund. A ₹12,500 monthly SIP uses the full ₹1.5 lakh annual Section 80C limit before considering other deductions.
2. 2Set the expected return: Enter the annual return you want to assume. ELSS funds are equity-linked, so actual returns can be materially different from the assumption.
3. 3Choose the duration: Select the number of years you plan to keep investing. Each ELSS instalment has its own 3-year lock-in from the date of allotment.
4. 4Select tax regime and slab: Choose old regime if you can claim Section 80C. In the new regime, ELSS investments can still be made, but 80C tax savings are not available.
5. 5Review corpus and tax savings: Check total invested, projected returns, maturity value, annual tax saved, and effective value after adding tax savings.

How are ELSS returns and tax savings calculated?

FV = P × [ ((1 + r)ⁿ − 1) / r ] × (1 + r)

Tax saved per year is min(annual investment, ₹1,50,000, available 80C limit) × tax slab under the old regime. In the new regime, this calculator shows ELSS tax savings as ₹0.