Ch.1 · Comparing Financial Products · easy
What is the lock-in period for an ELSS (Equity Linked Savings Scheme) mutual fund?
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EXPLANATION
ELSS has the shortest lock-in period of 3 years among all Section 80C investment options. Investments qualify for deduction up to ₹1.5 lakh under Section 80C. After 3 years, units can be redeemed, with LTCG tax applicable on gains.
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