What is the minimum percentage of assets that ELSS schemes must invest in equity?

60% 70% 80% 90%

What does SIP stand for in the context of mutual fund investments?

Systematic Investment Plan Simple Investment Portfolio Structured Investment Program Standard Investment Procedure

Which of the following investment frequencies is NOT typically available for SIPs?

Monthly Weekly Daily Yearly

What is the minimum investment amount per month for many mutual fund schemes via SIP?

Rs 100 Rs 250 Rs 500 Rs 1000

What is the lock-in period for ELSS funds?

1 year 2 years 3 years 5 years

Under which section of the Income Tax Act can investors claim tax benefits for investments in ELSS?

Section 80C Section 80D Section 80E Section 80G

What is the maximum amount that can be claimed as a tax deduction under Section 80C for ELSS investments?

Rs 1,00,000 Rs 1,25,000 Rs 1,50,000 Rs 2,00,000

Which of the following is a key benefit of investing in mutual funds through SIP?

Guaranteed high returns Elimination of market risk Rupee cost averaging Tax-free withdrawals