What are ELSS funds, and how can the ELSS statement be downloaded on FYERS?
Equity Linked Savings Scheme (ELSS) funds are mutual funds that offer tax benefits under Section 80C of the Income Tax Act. FYERS allows investors to invest in direct ELSS funds through SIP or one-time modes.
Overview of ELSS mutual funds
ELSS funds are equity-oriented mutual fund schemes with the following features:
- Eligible for tax deduction up to ₹1.5 lakh under Section 80C
- Comes with a mandatory 3-year lock-in period
- Invests primarily in equity and equity-related instruments
- Available through SIP or one-time investment
FYERS offers only direct ELSS plans, which have lower expense ratios than regular plans.
What If...
| Scenario | Explanation |
|---|
| You need a proof for tax filing | You can download your mutual fund investment from Reports section or contact the AMC for a year-end statement showing ELSS contributions. |
| You try to redeem before 3 years | Redemption will be blocked until the lock-in period for each investment lot ends. |
| You invested via SIP | Each SIP instalment has its own 3-year lock-in. Redemption is available on a per-instalment basis after lock-in. |
| You can't find ELSS in portfolio | Go to the Portfolio section, click 'Mutual funds' to view your mutual fund ELSS investments. |
ELSS is one of the few tax-saving options that offer equity market exposure. Always track individual instalment dates when planning redemptions.
Last updated: 18 Jun 2025
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