What is ELSS?
Investors look for Investment Opportunities that can help them to generate wealth, to get regular returns, and save taxes. Investors have the option of choosing schemes that will help them to save tax and get good returns. This scheme is known as Equity Linked Savings Scheme or ELSS.
Equity Linked Savings Scheme or ELSS Funds are tax-saving equity mutual funds.
ELSS are Equity Funds that invest a major portion in equity or equity-related instruments.
It offers Tax exemption of up to Rs.1,50,000 from your yearly taxable income under section 80C of the Income Tax Act, 2013. ELSS has a mandatory lock-in period of three years. There is no maximum tenure of investment.
In recent years, many investors have turned to ELSS to avail themselves of the tax benefits.
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