Equity Linked Savings Scheme on WebNotes

Parag Parikh ELSS Tax Saver Fund and Section 80C Eligibility

Sat, 16 May 2026 00:00:00 +0000

The Parag Parikh ELSS Tax Saver Fund is the PPFAS Mutual Fund Equity Linked Savings Scheme (ELSS), launched on 4 July 2019 and originally registered as the Parag Parikh Tax Saver Fund. The scheme is eligible for Section 80C deduction of up to Rs 1.5 lakh per assessee per financial year under the Income-tax Act, 1961 , subject to compliance with the Equity Linked Savings Scheme, 2005 (Notification No. 226/2005 dated 3 November 2005) issued by the Department of Economic Affairs, Ministry of Finance, and the SEBI Mutual Funds Regulations 1996 ELSS category framework.

ELSS mutual fund

Tue, 12 May 2026 00:00:00 +0000

An Equity Linked Savings Scheme (ELSS) is a category of open-ended equity mutual fund in India that qualifies for a deduction under Section 80C of the Income Tax Act, 1961, allowing investors to claim a deduction of up to ₹1.5 lakh per financial year from their gross total income, subject to conditions. ELSS funds are the only equity mutual fund category in India that offers a tax deduction on the invested amount. They carry a mandatory lock-in period of three years from the date of each investment unit, which is the shortest lock-in period among all Section 80C instruments.