ELSS stand as a favoured investment choice for tax savings under Section 80C of the Income Tax Act. They provide a dual advantage of tax savings along with the potential for wealth creation.
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Tax-saver index funds, or ELSS index funds, are a type of ELSS mutual fund that invests in stocks mirroring a specific market index (e.g., Nifty 50 or Sensex), providing tax benefits and the potential for investment growth.