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Finance Dictionary

ELSS

Equity Linked Savings Scheme — a tax-saving mutual fund investing primarily in equities. Qualifies for ₹1.5 lakh deduction under Section 80C with the shortest lock-in period of 3 years.

Example

Investing ₹1.5 lakh/year in ELSS saves ₹46,800 in tax (30% bracket) while building wealth.