Indian Income Tax act provides tax saving options under various sections like 80 C, 80 D, 80G.
Mutual funds through Equity Linked Saving Schemes(ELSS) Provide tax saving under section 80 C up to 1.50 Lakh.
ELSS provides an option to build long-term wealth along with tax saving. Compared to traditional tax saving options like PPF(15 years), NSC (6 Years) or tax saving FD (5 Years), ELSS schemes have only 3-year lock-in.