What Are ELSS Funds, And How Might They Help Me Plan My Taxes?

An investment works the best when there is a goal attached to it. A goal gives your investment a direction and makes the decisions related to it easier. For instance, if you are building a retirement corpus and a bear hits it, you could wait till the bear run ends because there might be a long way to go before you retire, and by that time, the market would have corrected, and your investment would rise. But if your investment was for a shorter term, you might want to act quickly to mitigate the effects. But what if the goal of your investment is to save taxes? Is there an option for that? Let us examine.
Section 80C
Most tax-saving investment options come under section 80C of the income tax act. Under this act, you can save taxes for up to Rs.1.5 lakh that you spend on investment. But not …