What is an ELSS (Equity Linked Savings Scheme)?
- An ELSS is a type of mutual fund that invests about 80% of its corpus in Equities.
- It allows an individual or HUF a deduction from the total income of up to Rs. 1,50,000 under Section 80C of Income Tax Act 1961.
- Tax savings upto Rs 46,800 under Section 80C.
* Fintra's Tax Saving calculator guides you to tax savings via ELSS and other deductions