All about ELSS Funds

According to the latest budget announcement for FY (2018-19) , Long Term Capital Gains is taxed @ 10% for equity mutual funds with grandfathering clause with the date set as 31st January 2018. The holding period for the same is 365 days. Upto 1 Lakh LTCG is exempted on equity funds. For Debt Funds, the time frame for LTCG is 36 months and taxed at 20% with indexation.

For equity funds, it’s 15% and for debt funds, its according to the tax slab of the person claiming the same. The holding period is 3 years for debt funds and 1 year for equity funds.

Maturity Benefits are tax free according to the current income tax law.