Tax Saving Mutual Funds - What are ELSS Funds

Investing in mutual funds with tax saving investment schemes can allow you to save tax on your income and also generate income in the long run. One such tax saving scheme(https://www.sbimf.com/en-us/equity-schemes/sbi-magnum-taxgain-scheme?utm_source=platform-dailymotion-offpage&utm_medium=free&utm_campaign=16-10-2019) is Equity Linked Savings Scheme (ELSS) which gives you substantial tax benefits.
An ELSS mutual fund is a type of diversified mutual fund(https://www.sbimf.com/en-us?utm_source=platform-dailymotion-offpage&utm_medium=free&utm_campaign=16-10-2019) scheme that invests in equity and equity related securities with a lock-in period of 3 years.
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