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      Question

      Which of the following is an open-ended mutual fund that

      gives tax benefit with lock-in of 3 years?
      A ETF Correct Answer Incorrect Answer
      B ELSS Correct Answer Incorrect Answer
      C Low cap funds Correct Answer Incorrect Answer
      D Mid-cap fund Correct Answer Incorrect Answer
      E Flexi cap fund Correct Answer Incorrect Answer

      Solution

      ELSS or Equity Linked Saving Scheme is a type of open-ended equity mutual fund These are tax-saving schemes. These schemes will continue having a lock-in period of three years and will provide tax benefit under Section 80C of the Income Tax Act Snapshot from study notes of the ixamBee SEBI course covering topic in detail

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