The stock market regulator, the Securities and Exchange Board of India (Sebi) has modified the Categorization and Rationalization of Mutual Fund Schemes to allow fund houses to launch passive Equity Linked Saving Schemes (ELSS).
Sebi on Monday said that mutual funds houses can either launch an active ELSS scheme or a passive ELSS scheme (through index fund).
The passive ELSS scheme shall be based on one of the indices comprising equity shares from top 250 companies in terms of market capitalization.
Under the passive mode, the ELSS will be benchmarked to a specific index without the role of a fund manager.
ELSS schemes are open-ended equity-linked schemes that have a 3-year lock-in and are enjoy tax benefit under section 80C of the Income Tax Act.
Powered by Capital Market - Live News
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.