Benefits of investing in Equity Linked Savings Schemes Benefits of investing in Equity Linked Savings Schemes ELSS is one of the most popular strategies to invest and benefit from a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act. Henil Shah / Thursday, March 31, 2022 / Article rating: 5.0 ELSS is one of the most popular strategies to invest and benefit from a tax deduction of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.