What are Tax Saving Funds?
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Tax Saving Funds are an Equity Linked Savings Scheme (ELSS) with a 3 year lock-in period, which is the minimum among all eligible investment products under Section 80C. These funds are also known to deliver higher long-term returns compared to other 80C investment options. Thus, these investments do both: save and grow your money!
As per section 80C, you can invest upto Rs 1.5 Lakh per year in Mutual Funds and save up to Rs. 46,800 in tax!