Full Form of ELSS : Equity-linked Saving Scheme

What is the full form of ELSS?

No:1. ELSS stands for Equity-linked Savings Scheme.
No:2. It is a Mutual fund investment schemes or a type of mutual fund that help you save income tax and provide an opportunity to grow money.
No:3. So, it is also known as tax-saving funds.
No:4. It mainly invests in equities (shares) of the companies listed in the stock exchanges to generate market-linked returns.
No:5. According to the Income Tax Act, under section 80c, the taxpayers who invest up to INR 1.5 lakh in particular securities can claim it as a deduction from their taxable income.
No:6. ELSS is one such security, and other securities include PPF, postal savings like NSC, tax-saving FDs, NPS, etc.

Features of ELSS Mutual Funds

Some of the major features of the ELSS fund are as follows:
No:1. These funds invest a large percentage of their portfolio in equity.
No:2. They have the shortest lock-in period of 3 years as compared to other tax-saving instruments.
No:3. The investors get the dual benefits of capital appreciation from investments in equity along with tax-saving.
No:4. The investors can choose dividend pay-outs if they wish to receive regular income or can go with the growth option for capital appreciation.
No:5. These mutual funds do not have any entry or exit load.
No:6. Good ELSS Funds offer returns in between 10 to 12 percent in the long run, which is highest among the tax-saving instruments.
No:7. Investors get higher returns than an FD and PPF
No:8. You can start by investing a small amount as low as Rs. 500.
No:9. The investor does not need to have the knowledge of the stock markets as the funds are managed by financial experts and fund houses on their behalf.

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