Under the old tax regime, investments in Equity Linked Savings Scheme (ELSS) are the only instrument eligible for a deduction under Section 80C of the Income Tax Act, subject to a 3-year lock-in period. Under Section 80C of the Income-tax Act, 1961, investing in ELSS enables you to claim a deduction of up to Rs. 1.50 lakh from the gross total income for the fiscal year.
Year-end portfolio rebalancing: Are you on track?
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