Deciding on an Equity Linked Savings Scheme (ELSS) can be a critical choice for investors aiming to maximize their returns while saving on taxes. Here’s a comprehensive guide to help you make an informed decision when selecting an ELSS:
ELSS is a type of mutual fund that invests primarily in equity or equity-related instruments. It offers dual benefits of potential capital appreciation and tax savings under Section 80C of the Income Tax Act. By investing in ELSS, you can reduce your taxable income by up to 1.5 lakhs per financial year, thereby lowering your tax liability.
