Tax saving mutual funds: Things to know before investing in ELSS
ELSS is an equity-linked savings scheme that gives investors multiple benefits such as tax savings, wealth accumulation and the lowest lock-in period
Tax planning is an activity best taken up in April. Never the less a lot of us rush to explore and invest in the various tax-saving investments towards the end of the financial year. With only three more days left in this financial year, there’s a last-minute rush to explore the various instruments. There is a big basket of products that qualify for deduction under Section 80 C of the Income Tax Act. One such option is the ELSS mutual fund, with a lock-in period of 3 years, which offers a maximum tax deduction of up to ₹1.5 lakh in a financial year.