The move by capital markets regulator Sebi to allow mutual funds to launch passively managed Equity-Linked Savings Schemes (ELSS) will allow a cost-effective tax-saving alternative to individual investors. ELSS funds are basically tax saving equity mutual funds, in which majority of the funds are invested in stocks. They come with a lock-in period of 3 years. Under Section 80C, investment of up to ₹1.5 lakh in a financial year in eligible instruments (including ELSS) are exempt from tax.
India: Life market expected to grow by 15% in next 3-5 years
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