Multiple choice general knowledge

ELSS (In the context of Mutual Funds)

  1. Endowment Linked Savings Scheme

  2. Equity Linked Savings Scheme

  3. Established Line Savings Scheme

  4. Entrepreneur Line Savings Scheme
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

ELSS stands for Equity Linked Savings Scheme in the context of mutual funds. It is a tax-saving mutual fund that primarily invests in equities and equity-related instruments, offering tax deductions under Section 80C of the Income Tax Act with a 3-year lock-in period.

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