ELSS is the short form for Equity Linked Savings Scheme. As indicated by the name, it is a mutual fund scheme that invests in the stock market or Equity. If you invest a amount of up to 1.5 Lakhs in the Equity, then they are eligible for tax deduction. The major advantage of the scheme is that they have a short lock-in-period of only 3 years, after which you can sell your investment.
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CONTENT WRITER | Posted on
ELSS is a mutual fund scheme. The name of the mutual fund scheme is Equity Linked Saving Scheme. It is a mutual fund scheme that mainly invests in the stock market. Under this scheme, investments can be done up to 1.5lakhs. The mutual funds under this type are taxable under section no. 80 of the income tax. ELSS is the mutual fund under which people invest throughout the year. Mutual funds give you the easiest and comfortable way to avail the tax benefits
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