Mutual Funds
A mutual fund is simply a financial intermediary that allows a group of investors to pool their money together with a predetermined investment objective.As you probably know, mutual funds have become extremely popular over the last 20 years.
This is a simple strategy for accumulating wealth over a period of time by investing regularly at a fixed interval of time in mutual fund schemes, this is similar to the concept of recurring deposits scheme, but this being in equity come tagged.
These schemes offer a tax deduction of up to 1.5 lakh to investors under section 80C of the Income Tax Act, 1961. Like equity schemes, they are suitable for investors(Individual, HUF and specified investors under Income Tax Act, 1961) with an appetite for high risk.