ELSS-Equity Linked Savings Scheme
                      Tax is a word of hatred for most people, but it is a word that shows our respect to country.So the country or system also shows us some respect.Eventhough the 2 above statements invite some debate, the fact is certain saving schemes help us save our hard earned money. When a newly employeed person thinks about investment, there are two things that comes upfront, should i go for a tax saving deposit or an investment maximising deposit. If you answers yourself as tax savings then you are a safe player and your returns will be 7-8% per annum and if your answer is latter then you are playing risky games. Actually BOTH should be there in an investment(safety and maximum benefit), and this is where ELSS has a role. Since its equity related scheme chance of fund getting good profit is there and also tax savings. When we compare ELSS with other schemes we can find a significant difference, its the time period of this deposit. Most tax saving deposits have a long lock period usually starting from 5 years and going up to 15 years or even more whereas ELSS has a minimum lockperiod of 3 years. ELSS is similar to mutual fund in all aspects except the lock in period….Read More on Mutual funds

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