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What is Equity Linked Saving Schemes (ELSS)?

April 26, 2017elss equity linked Saving Schemes

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What is Equity Linked Saving Schemes (ELSS)?

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Equity linked saving schemes (ELSS), these schemes are open-ended growth schemes with a mandatory 3-year lock- in. These schemes offer the benefit of section 80(C) of IT Act, up to a maximum of Rs 100,000 The main features of ELSS are – Repurchase: Repurchases are permitted after a period of 3 years. Lock-in-period: The units under ELSS are prohibited from trading, pledging and transfer during the lock in period of 3 years.