The tax financial savings season is upon us. And Part 80C stays a preferred tax saving device within the arms of the taxpayer. One of the crucial common tax saving investments is the Fairness Linked Financial savings Scheme (ELSS), or tax saving mutual fund (MF) scheme. An ELSS is a diversified fairness fund that invests in shares throughout sectors and market capitalisation. You possibly can make investments as much as Rs 1.5 lakh to avail Part 80C tax deduction advantages however you may put greater than that as effectively. Nevertheless, your tax deduction advantages will likely be restricted to Rs 1.5 lakh.
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