Equity Linked Saving Scheme (ELSS) are tax saving mutual funds which allows people with investments in those funds of up to Rs. 1.5 lakh to earn a tax break under Section 80C. With ELSS funds, you get the profit of getting the lowest lock-in among all tax saving investments, which is three years. If you invest in ELSS funds, you get higher returns in the long run. The minimum amount which you can invest is INR 500.
