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Home | Investor Education Articles | Tax Saving Funds ELSS

Tax saving funds / ELSS

ELSS stands for Equity Linked Savings Scheme. ELSS funds are equity funds that offer you a tax deduction (section 80C) on the amount you invest in the fund. This tax deduction is available for an investment amount of up to Rs 1.5 lakhs per financial year (1 April to 31 March). ELSS funds carry the same level of risk and potential returns as equity funds. Investment in an ELSS fund is subject to a lock in period of 3 years from the date of allotment of units. The tax benefits are as per the current Income Tax laws & rules and any other law for the time being in force