ELSS

Definition

Equity Linked Savings Scheme — a tax-saving mutual fund with a 3-year lock-in.

Visual Reference

Example

Understanding ELSS helps individuals manage money and plan for the future.

In Practice

Also known as: Equity Linked Savings Scheme, Tax-saving Fund. Closely related to Mutual Fund, SIP.

Word Usage

Tax planning; Equity investing; India

Use Case

Applied in Personal Finance contexts: Tax planning; Equity investing