Under the growth option, the investor gets the gains only at the time of redemptions. Appreciation in the totalNAVof the ELSS mutual fund multiplies the profits. Investors are not entitled to benefits in the form of dividends. Mutual fund returns are subject to market risks, and so are the...
ELSS are mutual fund schemes that invest at least 80% of their net assets in equities. If you’re looking for mutual fund tax benefits, this is the scheme you want. Money invested in an ELSS is deductible up to ₹1.5 lakh u/s 80C of the Income Tax Act, 1961. Notice that section...