What is full form of ELSS? Meaning
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The full form of ELSS is Equity linked saving schemes. ELSS scheme are basically diversified mutual fund schemes which enjoy tax benefits under Section 80C of The Income tax Act. They are a great savings instrument to grow your money faster than fixed deposits or PFs.
These schemes are called Equity linked as the mutual fund schemes invest in majority equities. Most of the ELSS( Equity linked saving schemes ) are diversified mutual fund schemes which mean they invest across all classes of the equity of large-cap, mid-cap, and small caps.
ELSS schemes are also called tax saving mutual funds because they are eligible for section 80C benefits as well.
What do you think of ELSS? Is it a good investment option? You can share your views on the same.