The last month of the financial year sees investors rushing to save tax by investing in tax-saving instruments. You can save tax by investing upto Rs 1.5 lakh in equity-linked savings scheme (ELSS) under section 80C of the Income Tax Act.
What are tax saving or ELSS schemes? How much can one invest in them?
An equity-linked savings scheme (ELSS) is a mutual fund that gives the option to save tax. These funds invest in equities and investors can an choose the dividend or growth options. You can invest any amount up to 1.5 lakh in an ELSS scheme to save tax.
