ELSS Stands For Equity Linked Saving Scheme. ELSS Funds are Tax Saving Mutual Funds
ELSS Funds Invest in Equity and equity-linked securities.
ELSS Mutual Fund OfferTax exemption Under Section 80c Of The Income Tax Act 1961 Upto 1.5 Lakh.
ELSS Mutual Funds Have a Lock-in Period of Just Three Years.
Post lock-in returns from ELSS are taxed as long-term capital gains (LTCG)
There is tax exemption on long-term capital gains up to Rs 1.5Lakh per year. If the gain exceeds Rs 1.5 lakh per year then 10% tax is levied.
ELSS funds invest a minimum of 80% in equities, with the remaining portion invested in debt funds.
All mutual fund investments or Mutual Fund Jankari are subject to market rates Ismail advises its readers, and viewers, to read all scheme-related documents carefully and consult a registered financial advisor before making any money and investment-related decisions. .