All You Need To Know About ELSS Calculator

What Is an ELSS Calculator?

Tax planning in India often feels like a last-minute scramble in March where everyone’s rushing to put money somewhere, anywhere, just to save a few thousands on tax. That’s where the ELSS Calculator comes in.

An ELSS (Equity Linked Savings Scheme) calculator is a simple yet powerful tool that instantly shows you how much tax you can save by investing in ELSS mutual funds. Since ELSS investments are eligible for deductions under Section 80C of the Income Tax Act (up to ₹1.5 lakh), the calculator helps you avoid manual math and get clarity in seconds.

With the Prodigy Pro ELSS Calculator, you only need two inputs:  the amount you’re investing and your tax slab. The tool will immediately show you how much tax you can save, including cess, so you know exactly what’s at stake.

How Does the ELSS Calculator Work?

At its core, the ELSS calculator runs on a simple principle: your savings depend on your tax slab and how much you invest.

For example:

• If you invest ₹1,00,000 and you’re in the 20% tax bracket, you save about ₹20,800.
• If you’re in the 30% tax bracket for the same investment, your tax saving jumps to ₹31,200.

The formula is straightforward, but instead of calculating manually (and risking mistakes), the calculator does it instantly and accurately.

How Does the Prodigy Pro ELSS Calculator Help You?

Here’s why the Prodigy Pro ELSS Calculator is not just a number cruncher but a financial planning partner:

1. Crystal-Clear Tax Benefits
No more guessing. You instantly know the exact tax you’ll save, making your investment decision fact-based.

2. Encourages Early Planning
Why wait until March to invest in a rush? With this calculator, you can plan ELSS investments through the year, maybe even via SIPs, to spread risk and build discipline.

3. Personalized to Your Tax Slab
Your neighbour in the 30% slab will save much more than you if you’re in the 5% slab. The calculator personalizes results so you see what’s relevant for you.

4. Beginner-Friendly
Even first-time investors who find tax jargon intimidating can use the Prodigy Pro calculator in under a minute.

How to Use the Prodigy Pro ELSS Calculator

How to use Prodigy Pro’s systematic investment plan calculator?

Using the Prodigy Pro ELSS Calculator is as simple as it gets:

1. Enter Investment Amount- Put in the amount you’re planning to invest in ELSS.
2. Select Your Tax Slab- Choose whether you’re in the 5%, 20%, or 30% slab.
3. Click Calculate-  Instantly view how much tax you’ll save.

Example 1:

• Investment: ₹1,00,000
• Tax Slab: 20%
• Tax Saved: ₹20,800

Example 2:

• Investment: ₹1,50,000
• Tax Slab: 30%
• Tax Saved: ₹46,800 (maximum deduction under 80C)

Within seconds, you see the impact of your investment.

Final Thoughts

Tax planning doesn’t have to be complicated or last-minute. With the Prodigy Pro ELSS Calculator, you can instantly see how much tax you save, plan investments smartly, and even explore SIPs in ELSS to build wealth steadily.

So the next time you’re thinking about tax saving, don’t just guess. Use the Prodigy Pro ELSS Calculator, run your numbers, and make every rupee count,  because good tax planning is not just about saving today, it’s about building for tomorrow.

Before you explore the world of tax-saving instruments, watch the video linked (LINK). With the introduction of the new tax regime, it’s crucial to first understand whether investing in ELSS or any other tax-saving option is even necessary for you.