Can someone help me with understanding of ELSS funds

I was checking ELSS funds, it was mentioned we could save upto 1.5 lakhs a year from tax under section 80c if we opt for ELSS funds but again I read that we could only save 46,800 in a year.

I didn't understand anything about these ELSS funds and section 80c. I'm new to this corporate world and have never filed ITRs. Please help me understand this.

Thank you

11mo ago

JumpyPretzel

Stealth

11mo

How much is your ctc? If below 12.5, not taxable anyway. 80c is a mix of various options- PF + ELSS + PPF + few others. PF is added by default. So technically, if your salary includes PF, then using ELSS, you can never get tax benefit of full 1.5 lakhs. You can get benefit of only 1.5 lakhs minus PF amount.