Ch.2 · Mutual Fund Structure Basics · medium
What is an ELSS (Equity Linked Savings Scheme) and what is its key distinguishing feature?
0% of students got this wrong
EXPLANATION
ELSS (Equity Linked Savings Scheme) is a diversified equity mutual fund with a mandatory 3-year lock-in period. Investments up to ₹1.5 lakh per year are eligible for tax deduction under Section 80C of the Income Tax Act. It has the shortest lock-in among all 80C instruments.
Practising Chapter 2 one question at a time?
Try the full chapter — 100 questions, tracked score, weak area breakdown.