Subject: Static GK (General Knowledge)
Book: Indian Money Knowledge
ELSS funds invest primarily in equities, offering tax deductions up to INR 1.5 lakh under Section 80C. They carry a mandatory 3-year lock-in, typically shorter than other tax-saving instruments like PPF. While returns can outpace inflation, market volatility exists. Students or fresh earners looking to reduce taxable income while seeking higher potential growth often choose ELSS as a stepping stone, honing investment discipline and reaping dual benefits of tax savings and market-linked returns.
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