ELSS: A mutual fund with tax exemption and returns; what expert says about ELSS investment
Equity Linked Saving Scheme (ELSS) is a category of mutual fund which allows you to have tax exemption up to Rs 1.50 lakh under Section 80C of the Income Tax Act. It comes with a lock-in period of three years. While it gives one tax benefits, many of the ELSS funds have given impressive returns in the last three years. One can invest in ELSS in a lump sum manner or through the systematic investment plan (SIP). Know more details-
Long-term capital gains on ELSS are tax free up to Rs 1 lakh, while anything above that is taxed at the rate of 10 per cent. Photo: Unsplash/Representational