An Equity Linked Savings Scheme (ELSS) carries a mandatory lock-in per…

Question

An Equity Linked Savings Scheme (ELSS) carries a mandatory lock-in period of

Accepted Answer

A. {'text': '3 years', 'label': 'A'}

1. ELSS is an equity mutual fund category with a statutory tax benefit.
2. Regulations require at least 80 percent of assets in equity and equity related instruments.
3. Every ELSS investment carries a mandatory lock-in of 3 years.
4. During the lock-in the investor cannot redeem those units.
_Source: NISM Series V-A: Mutual Fund Distributors Workbook (Dec 2019), Ch 2 "Concept and Role of a Mutual Fund", §2.2.4A(10)_

Answer

{'text': '1 year', 'label': 'B'}

Answer

{'text': '5 years', 'label': 'C'}

Answer

{'text': '7 years', 'label': 'D'}