What are Equity Linked Saving Scheme (ELSS) Funds or Tax Saving Funds | How do they work? | Scripbox

Equity Linked Savings Scheme (ELSS) commonly referred to as the tax saving funds are funds that predominantly invests in equity and equity-related instruments to generate high returns. While there are numerous investment schemes available in the market, most of them offer returns that are taxed according to the Income Tax rules. Investments in ELSS funds qualify for tax exemption under section 80C of the Indian Income Tax Act up to a total of RS. 1.5 lakhs. Confused about how do they work? These tax saving funds primarily invest in stocks of listed companies in a specific proportion according to the investment objective of the fund.

Watch this video to know about what are ELSS Funds and how do they work? For more information on how to invest in mutual funds and financial planning, subscribe, and stay tuned to Scripbox. Visit our website to know more: https://scripbox.com/

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Disclaimer: Mutual Fund investments are subject to market risks. Please read all scheme related documents carefully before investing. Past performance is not an indicator of future returns.

Video Timeline
Introduction 00:00
What is an ELSS fund? 0:30
ELSS and SIP investing 1:26
How are ELSS funds different from other equity funds? 1:41
ELSS is better than FD and PPF 2:10

Outline
What is an ELSS fund?
ELSS or Equity Linked Savings Scheme is a type of diversified equity mutual fund that helps in saving tax and at the same time aims at long term wealth creation. By investing INR 1,50,000 in ELSS funds, you can save tax up to INR 46,800 under Section 80C of the Income Tax Act. However, these funds come with a 3-year lock in period.
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ELSS and SIP investing
Investing to save tax through ELSS funds has become even more easier with SIP investing. Instead of investing the entire INR 1,50,000 in one go, you can invest a small amount every month and save tax easily.

How are ELSS funds different from other equity funds?
ELSS funds are similar to other diversified equity funds, except that they have a lock in period of 3 years. Once you invest in ELSS funds, your money is locked in for a period of 3 years. At the end of 3 years, you can redeem the investment or stay invested for the long term to meet various long term financial goals.
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ELSS is better than FD and PPF
ELSS is better than other tax saving investments like FD and PPF as they give better returns in the long term and have the lowest lock in period.
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Scripbox
Scripbox makes tax saving easier through its proprietary algorithm. It suggests the best tax saving mutual funds for you to invest in. We also provide investment proofs for you to claim your tax deduction.
Scripbox also allows you to estimate your tax liability using their Income Tax Calculator. We suggest the best ELSS funds to reduce your taxable income and increase your chance of wealth creation. Don’t tax yourself when you can invest in ELSS through Scripbox and relax yourself.

Useful links
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Calculate your potential returns from ELSS funds - https://scripbox.com/plan/elss-calcul...
To know more about our tax saver plan - https://scripbox.com/plans/tax-saver-...
All your questions answered about ELSS funds - https://scripbox.com/blog/all-your-qu...

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