It is that time of the year again, when the taxpayers are busy finalising their tax-saving investments. As usual, Equity Linked Savings Schemes (ELSSs) are on the shopping list of many discerning investors looking to save taxes. Many of them always wonder whether it is okay to invest a lumpsum in ELSS at one go?
“ELSS is nothing but an equity mutual fund with a three-year lock-in period,” says Anuj Dalmia, founder and CEO, Akruti Financial Planning Solution. All tax-saving investments that qualify for tax deductions under Section 80C come with a mandatory lock-in period. The lock-in period is three years for ELSSs.
