Ch.8 · Capital Gains Tax on Mutual Funds · easy
What is the tax deduction available under Section 80C for ELSS investments?
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EXPLANATION
ELSS investments qualify for tax deduction under Section 80C of the Income Tax Act up to ₹1.5 lakh per financial year. This ₹1.5 lakh limit is shared across all Section 80C instruments (PPF, life insurance premiums, EPF, NSC, etc.). ELSS has the shortest lock-in (3 years) among 80C instruments and offers equity market returns — making it popular for tax-efficient investing. Note: 80C deduction is not available under the new tax regime.
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