Equity Linked Saving Schemes (ELSS)

ELSS or Equity Linked Savings Schemes are basically Mutual funds invested in the equity market. These funds are liable for Income Tax exemption under Section 80C of the Income Tax Act 1961. These are Open-ended, Equity-Oriented Schemes. If a person invests an amount of up to Rs. 1.5 lakh in ELSS, then he can deduct …

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