Tax Saving Mutual Funds Schemes

Tax saver funds also known as Equity Linked Saving Schemes (ELSS) primarily invest in equities and equity related instruments. They offer investors the benefit of tax savings (Old Regime) allowing deductions of up to Rs 1.5 lakh under Section 80C of the Income Tax Act, 1961. ELSS schemes have a mandatory lock in period of three years from the date of allotment of units.