Mahindra Mutual Fund Kar Bachat Yojana – an Open Ended ELSS Scheme with a 3 year lock-in period. The New Fund Offer closes on October 7, 2016, and will reopen for continuous sale and repurchase from October 19, 2016.
Mahindra Mutual Fund Kar Bachat Yojana, is targeted at tax payers who can avail of the benefit of deductions allowed under Section 80C of the Income Tax Act 1961. It will provide these investors with a tax-saving option under section 80C. Additionally, since each investment remains locked in for a period of three years, all redemption proceeds are tax free.