Equity Linked Savings Scheme
A special product offered by mutual funds. The Equity Linked Savings Schemes (ELSS) give their investors the option of saving tax while participating in the growth of the capital market. An investment of up to 1,00,000 under ELSS qualifies under Section 80C of the Income Tax Act, 1961. As per the ELSS guidelines issued by the Central government, mutual funds have to ensure that at least 80 percent of the funds are invested in equities and equity-related instruments. Investors can sell back their units to the mutual fund at the NAV-based repurchase price after the lock-in-period of three years. The long term capital gains on sale of units are not taxable in the hands of the investor.
First In First Out Method (FIFO)
Fund Management Costs
Income / Debt Funds
Initial Offer Price