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What does the term 'ELSS' stand for?
Entry Load Shares Scheme
Entry Load Starting Shares
Equity Linked Savings Scheme
Equity Linked Shares Sold
Employee Level Salary Scheme
ELSS stands for Equity Linked Saving Scheme. An Equity Linked Savings Scheme (ELSS) is an open-ended Equity Mutual Fund that doesn't just help you save tax, but also gives you an opportunity to grow your money. It qualifies for tax exemptions under section (u/s) 80C of the Indian Income Tax Act.
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