Equity Linked Savings Plans (ELSS), which combine asset growth and tax savings, are essential to efficient tax planning. ELSS funds provide tax deductions up to ₹1.5 lakh each financial year under Section 80C of the Income Tax Act, lowering taxable income and total tax obligation. ELSS can improve your tax plan in the following ways:   Tax Advantages With ELSS mutual funds, you can deduct...

ELSS Mutual Funds, or Equity Linked Savings Scheme Mutual Funds, are tax-saving mutual funds in India. These funds, categorized as equity funds, primarily allocate their assets to equity or equity-related products. Recognized as tax-saving plans, ELSS funds offer a significant advantage by allowing a tax deduction of up to Rs.1.5L from your annual taxable income under Section 80C of the Income...