How is ELSS different from Mutual Fund schemes?

Mutual fund is a generic name under which Asset management companies manage your money by investing on your behalf. They invest in stocks and bonds in India and sometimes outside India. There are many mutual fund scheme that are available.

Equity Linked Saving Scheme (ELSS) is a specific scheme which invest only in equity. By investing in these ELSS schemes you can avail tax benefit under section 80C of Income Tax Act.