Equity-Linked Savings Scheme (ELSS)

Tax Glossary Definition

Equity-Linked Savings Scheme (ELSS)

Equity Linked Savings Schemes (ELSS) are mutual fund options that qualify for tax deduction under Section 80C of the Income Tax Act. These funds primarily invest in equities and have a mandatory lock-in of three years.

Example: An individual investing ₹1 lakh in an ELSS fund can claim that amount as part of the total deduction limit of ₹1.5 lakh allowed under Section 80C.

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