Back What is ELSS ?
An ELSS or equity-linked savings scheme is an open-ended equity mutual fund which offers tax deductions under the provisions of Section 80C of the Income Tax Act, 1961. These mutual funds schemes are equity-oriented and the only kind of mutual funds that come with tax benefits of up to Rs 1,50,000 a year. By investing in ELSS, you can save up to Rs 46,800 a year in taxes.
Frequently Asked Questions
An ELSS calculator is a simulation that assists you in estimating the value of your ELSS investment over time based on the inputs you provide. You must input the mode of investment (SIP or lump payment), the amount of investment, the frequency of investment if the mode is SIP, the estimated annual rate of return, and the term of the investment into the calculator.
After you've input these facts, our ELSS calculator will show you how much money you'll have at the conclusion of the investing period. You will be able to align your investment and requirements by using our ELSS calculator.
ELSS funds invest in stocks, as their name indicates, and like any other market-linked mutual funds, they are exposed to market risks. By making long-term contributions to the fund, you can reduce this risk, though.