Many new investors are investing more than Rs 1.5 lakh a year in Equity Linked Savings Schemes (ELSSs) these days. Another investor has invested Rs 2.5 lakh in an ELSS. Some of these investors are unaware of the fact that they can claim a deduction of maximum upto Rs 1.50 lakh under Section 80C. Sure, you invest in equity mutual funds, including ELSS, with a horizon of five to seven years. If you are looking to invest for tax-saving purpose under Section 80C, there is no point in investing more money than the maximum allowed limit of Rs 1.50 lakh.

Source: Economic Times January 24, 2018 11:03 UTC