Are profits from ELSS after the 3-year lock-in included in the income for taxation? - Praveen Kumar, New Delhi
The ELSS schemes fall under the EEE (exempt-exempt-exempt) tax regime. So, tax on investments, gains or earnings up to Rs.1.5 lakh is exempt under Section 80C during the lock-in. Redemption or withdrawal on completion of the mandatory 3-year lock-in is also tax free.
