These Mutual Funds Can Save You Rs 46,800 in Income Tax!

Introducing ELSS (equity-linked savings scheme)

- Also known as tax-saving mutual funds

Who should ideally be interested in ELSS?

- Those who have opted for the old tax regime

How does an ELSS save tax?

- Under the old tax regime, you can get a deduction of up to Rs 1.5 lakh annually by investing in an ELSS

You can save Rs 46,800 in taxes…

- If you invest Rs 1.5 lakh in a financial year and fall in the highest tax bracket (earning above Rs 10 lakh p.a.)

ELSS can save substantial tax for those in the 5% & 20% tax bracket, too