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What is ELSS funds and how to invest?
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What are ELSS funds and how to invest?
ELSS or Equity Linked Savings Schemes are mutual fund investment schemes that offer secure savings with tax benefits. That is the reason why the ELSS funds are known as tax saving funds. Under the act of 80C of the income tax act, taxpayers can save up to 1.5 lakh.
Features of Equity Linked Savings Scheme (ELSS)
Equity Linked Savings Scheme is one of the greatest investment options, this scheme not only gives security also offers good returns with good tax savings. This scheme does not have any age limit. So one can start savings once they start earning.
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Key Features of ELSS
Offers Tax-benefits up to Rs 1.5 lakh under section 80C of the income tax act.
ELSS offers two investment options (Dividend or growth options).
ELSS comes with a lock period of 3 years.
The performance of the ELSS is completely based on the performance of the market.
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