Financial Tools

Save Tax with ELSS

Save Tax with ELSS

ELSS or Equity Linked Savings Scheme, a type of mutual fund scheme, is a very popular tax saving product eligible for deduction from u/s 80C of the IT Act. For FY 2024-25 you can claim deduction upto Rs. 1.5 Lakh of investments in ELSS though there is no upper limit in how much you can invest. Under section 80C, ELSS is the only product that offers equity exposure with potential for attractive long term returns and with the least lock-in period of only 3 years. Further more, there is no long term (>1 year) capital gains in all mutual fund equity schemes making ELSS more attractive. You can either make a lumpsum investment or do a monthly SIP or do both in an ELSS.

This tool can help you know the amount of Tax savings that you can do by investing in ELSS.
 
Know your Tax Slab
Your applicable Tax Slab Rate :
5% 20% 30%
Select Applicable Tax Rate as per your Income.
For Detail click on Know your Tax Slab Link
Investment Planned for ELSS :
Rs. 

The Amount of money you would like to invest in ELSS Fund.

Note: The investments that you make in ELSS are eligible for deduction under Sec 80C. Investors can invest up to Rs. 1,50,000/- in an ELSS fund and deduct the investment from their taxable income u/s 80C of Income Tax Act.
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