ELSS Tax Details
ELSS allow an individual or HUF a deduction from total income of up to Rs. 1,50,000 under Section 80C. Investors can avail tax benefit under Section 80C of upto Rs. 46,800 by investing in ELSS.
Long term capital gains from ELSS above Rs 1 lakh would be taxed @10% without any indexation benefit.
Short term Capital Gains tax is not applicable to ELSS because of the mandatory lock-in period of 3 years.