ELSS or (Equity Linked Saving Schemes) are a category of mutual funds that invest the corpus primarily in equity and equity related instruments. The investment is locked-in for a period of three years from the date of investment. ELSS Schemes qualify for tax deductions under Section 80 C of the Income Tax Act up to a limit of Rs 1,50,000 per financial year (for taxpayers opting for old tax regime. Refer to income tax rules).

ELSS schemes encourage investors to invest in equities for a long time horizon to reap the benefit of long term wealth creation. 

ELSS schemes score over traditional tax saving instruments as they grow your wealth through equity allocation and give tax benefits at the same time.