What is the primary advantage of ELSS over traditional equity investments?

"Higher returns with lower risk" "Guaranteed returns" "No market volatility" "Absence of taxation"

What is the minimum investment amount required for ELSS?

"Rs 1000" "Rs 500" "Rs 10,000" "There is no minimum investment"

What tax benefit does ELSS offer to investors?

"Exemption under Section 80C of the Income Tax Act" "Complete tax exemption on returns" "Tax exemption only on dividends" "No tax benefits are associated with ELSS"

What is the lock-in period for ELSS investments?

"1 year" "2 years" "3 years" "5 years"

How are returns from ELSS taxed after the lock-in period?

"Taxed as short-term capital gains" "Taxed as per the investor's income tax slab" "Taxed at a flat rate of 15%" "Considered Long Term Capital Gains and taxed at 10% if exceeding Rs 1 lakh"

What investment strategy can be used with ELSS for disciplined investing?

"Lump sum investment" "Systematic Investment Plan (SIP)" "Dollar-cost averaging" "Value investing"

What is a key consideration for investors before investing in ELSS?

"The fund manager's reputation" "The past performance of the ELSS scheme" "The specific sectors the ELSS is invested in" "The lock-in period of the scheme"

What is the tax rate applied to the taxable portion of ELSS returns under LTCG?

"5%" "10%" "15%" "20%"