How ELSS Mutual Funds Can Help Save Taxes and Build Wealth

Equity Linked Savings Schemes (ELSS) are mutual funds that offer both tax benefits and wealth creation

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Investments in ELSS are eligible for a deduction of up to ₹1.5 lakh under Section 80C of the Income Tax Act

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With a lock-in period of just 3 years, ELSS has one of the shortest tenures among tax-saving instruments

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The majority of ELSS investments go into equities, providing potential for high long-term returns

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Tax-efficient growth, as gains up to ₹1 lakh per year are exempt from taxes

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