Why would you want to use other tax saving investments, when you can invest in mutual fund ELSS? Mutual Fund ELSS is among the most potent tax saving options available with the salaried class in India, at the moment. There are several reasons for which Mutual Fund ELSS may be considered a niche product on offer for the tax-payer angling to save their precious moolah. The advantages that Mutual Fund ELSS offers, gives it a clear edge over other tax savings options and makes it a potentially strong tax planning instrument in the hands of the taxpaying employee. In order to understand Mutual Fund ELSS in a more succinct manner, a few basic things about this favored tax-saving option are presented in a FAQ format. What is Mutual Fund ELSS? The Income Tax Act permits exemption up to Rs. 1 lakh under Section 80C to salaried employees every year. In order to avail of this exemption, taxpayers have to invest in certain designated schemes specified. Mutual Fund ELSS or Equity-linked...