Who do ELSS funds help in saving Income Tax?

Equity Linked Savings Schemes (ELSS) under section 80C of the Income Tax Act, 1961. These schemes are growth-oriented and invest pre-dominantly in equities. Their growth opportunities and risks associated are like any equity-oriented scheme.

ELSS can be invested using both SIP (Systematic Investment Plan) and lump sums investment options There is a 3 year lock-in period. You will get a tax deduction up to ₹ 1.5 lacs and the profits from ELSS schemes are subject to LTCG similar to equity.

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