Time is running out for those who want to invest in a tax saving mutual fund scheme, also referred to as equity-linked savings scheme (ELSS). The last date to save tax for the financial year 2021-22 is March 31, 2022, and if you have not yet completed tax planning, you need to hurry up. By investing in ELSS, you can not only save tax but also let your money participate in the growth potential of equities. ELSS are mutual fund schemes that invest predominantly in equities, provide tax benefit under Section 80C up to Rs 1.5 lakh and come with a lock-in period of three years on the investment made.
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