ELSS Funds: A Unique Blend Of Tax Benefits And Wealth Creation

March 31st is the cut-off date to complete tax saving investments every financial year and with less than 90 days left to close our books of accounts, now is the time to minimise your tax liability. In this context. equity-linked savings schemes or ELSS funds are a unique mutual fund offering that can not only help investors save tax but also grow their wealth. First things first: Investments in ELSS funds are eligible for tax deductions under Section 80C of the Income Tax Act. By investing up to ₹1,50,000 in an ELSS fund, investors in the highest tax bracket can save up to ₹46,800 a year in taxes.