What is an Equity Linked Savings Scheme (ELSS)?
• ‘ELSS’ is a Mutual Fund Scheme that can help save up to Rs. 46,800* in tax; your investments in ELSS qualify for tax deductions under section 80C of the Income Tax Act, 1961.
• As they invest in equity markets, they can help you Grow Your Wealth too!
• These schemes have a short lock in period of just 3 years.
*Calculated at the highest tax slab rate for FY19-20 applicable on investments u/s 80c. Surcharge has been ignored for ease of calculation.