The beginning of a financial year is a good time to plan your investment. It is also a good time to put your money in investment basket and get tax benefit as well. One such product is equity linked savings scheme (ELSS). ELSS is mutual fund investment, which also gives you tax benefit. Here is how you can use it to work for you in terms of investment and taxation.
What is it?
An ELSS scheme invests in equity mutual fund. “At least 65% of the corpus is invested in equities. It cannot be less than that," said S Krishna Kumar, chief investment officer-equity, Sundaram Mutual Fund.
