Wondering what "ELSS" (Equity Linked Savings Scheme) means? This short reference explains it in plain terms.
ELSS is a tax-saving equity mutual fund eligible for deduction under Section 80C, with the shortest lock-in (3 years) among 80C options.
What is ELSS?
ELSS is a tax-saving equity mutual fund eligible for deduction under Section 80C, with the shortest lock-in (3 years) among 80C options.
| Full form | Equity Linked Savings Scheme |
|---|
Where it is used
- Tax saving under 80C
- Equity investment
Why ELSS matters
ELSS shows up in real filings, forms and transactions, so knowing what it means helps you complete them correctly and avoid errors, rejections or penalties. When in doubt about how ELSS applies to you, confirm on the official portal or with a qualified professional before filing.
Frequently asked questions
What is the full form of ELSS?
ELSS stands for Equity Linked Savings Scheme.
What is ELSS used for?
Tax saving under 80C; Equity investment.