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What are ELSS funds, and how do they help in tax planning?

Equity-linked savings schemes (ELSS) are open-ended equity mutual fund schemes with tax benefits under section 80C up to ₹1.5 lakh. ELSS schemes have a 3-year lock in period. Investments in ELSS scheme cannot be redeemed before 3-years.

To know how to download ELSS statements, see Where can I get a statement for my ELSS investments?