ELSS Schemes, Equity Linked Savings Schemes, 80(c) Tax Savings

Tax Savings Schemes
Tax Savings Fixed Deposits in Banks
Tax Savings Fixed Deposits in Post Office
Equity Linked Savings Schemes (ELSS)
ELSS Schemes, Equity Linked Savings Schemes, 80(c) Tax Savings

Equity Linked Savings Schemes (ELSS) eligible for tax savings under Sec 80c of the IT act.

Salient aspects of the scheme are as follows:

  • An assessee can invest in Mutual Funds that offer Equity Linked Savings Schemes to get tax benefits.
  • Investments made upto Rs. 1 lakh per year are exempted from payment of income tax under Sec 80C.
  • The investments in ELSS schemes have a lock-in period of 3 years, i.e., investment period of at least 3 years is required to realize the tax benefits.
  • The dividends earned in an ELSS are tax free.

ELSS Mutual Funds

ELSS Schemes
ABN AMRO Tax Advantage Plan (ELSS)
Birla Sun Life Tax Relief '96
Canara Robeco Equity Tax Saver
DBS Chola Tax Saver Fund
DSP Merrill Lynch Tax Saver Fund
DWS Tax Saving Fund
Fidelity Tax Advantage Fund
Franklin India Taxshield (FIT)
HDFC Long Term Advantage Fund
HDFC TaxSaver
ICICI Prudential Tax Plan
ING Tax Savings Fund
JM Equity Tax Saver Fund Series- I
Kotak Tax Saver
Principal Personal Tax Saver Fund
Reliance Tax Saver (ELSS) Fund
Sahara Tax Gain Fund (ELSS)
Standard Chartered Tax Saver (ELSS) Fund
Sundaram BNP Paribas Tax Saver
Tata Tax Saving Fund
UTI Equity Tax Saving Plan