The SaveTax Wallet has the dual benefit of long-term capital appreciation along with tax benefit. SaveTax Wallet allows an individual or HUF a deduction from total income of up to Rs. 1.5 lacs under Sec 80C of Income Tax Act 1961. This brings down your total taxable income by Rs. 1.5 lacs, thereby reducing the tax burden. ELSS funds (Equity Linked Saving Schemes) come with a lock-in period of three years from the date of allotment of units, after which the units are free for redemption or switch. We recommend investors to invest in ELSS funds through monthly SIP route to enjoy the benefit of Rupee Cost Averaging.

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