Equity Linked Savings Funds (ELSS) are a type of mutual funds that offer income tax saving benefit. The amount invested (max Rs 1,50,000) is reduced from taxable income. This means a saving in tax of about Rs 46,000 for someone in the highest tax bracket. There is a 3 year lock-in as per government rules.
By investing in direct plans of ELSS funds you get an extra saving of about Rs 7000 reduced as commission are removed.
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Mr. Ravi S Rao, Managing Director & Member, Board of Directors
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Mr. Hirilal Neelakantan, Business Leader
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Mr. Suman Sasmal, Ambassador, Coach, Consultant OpenExO
