ELSS (Equity Linked Savings Scheme)
Definition
Mutual fund scheme offering tax deduction under Section 80C with a mandatory 3-year lock-in period. Available only under the Old Tax Regime.
In Context
ELSS combines tax savings (up to ₹46,800 tax benefit at 30% slab on ₹1.5L investment) with equity market growth potential. Shortest lock-in among all 80C instruments.
Related Terms
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⚠️ Disclaimer: This glossary is for educational purposes. Simplify Money provides analytical insights and guidance. We have applied for SEBI RIA registration.
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