Equity Linked Saving Schemes:

Equity Linked Savings Scheme (ELSS) is a tax-saving mutual fund scheme that primarily invests in equities. Investments in ELSS are eligible for tax deduction up to ₹1.5 lakh under Section 80C of the Income Tax Act, provided the investor opts for the old tax regime

ELSS comes with a mandatory lock-in period of 3 years, the shortest among tax-saving options under 80C. It offers the potential for higher long-term returns, making it suitable for investors seeking tax savings along with wealth creation.

ELSS investments can be made through lumpsum or SIP, based on your financial goals and risk profile.