Not FDs—ELSS is the fastest way to save tax and become a crorepati! Find out how..

ELSS Mutual Funds: While there are several options available for tax saving under Section 80C of the Income Tax Act, ELSS (Equity Linked Savings Scheme) has emerged as a favorite among salaried individuals and young investors.

Essentially, this is a tax-saving mutual fund that not only offers a tax exemption of up to ₹1.5 lakh annually but also helps build a substantial corpus over the long term by investing your money in the stock market. Among all tax-saving instruments—such as PPF or FD—it has the shortest lock-in period: just three years.

What is an ELSS Mutual Fund?