Funds
What is elss?
An equity mutual fund that qualifies for a tax deduction and locks your money for three years.
Explained in more detail
ELSS stands for equity linked savings scheme. It invests at least 80% in shares and carries the shortest lock-in of any tax saving option in India. The deduction is only available under the old tax regime.
An example
For instanceEach monthly SIP instalment is locked separately for three years from its own date.
Why this matters to you
You will meet this word in broker apps, company results and market news. Knowing what it means is not the goal on its own. The goal is being able to judge whether a number is good or bad for the investment you are actually holding.
On AlphaVik, any time elss appears in a view or a lesson, you can hover or tap the word and this explanation comes with it. You never have to leave the page to look something up.