Yes, there are tax-advantaged investment opportunities in the stock market. Equity-linked Savings Scheme(ELSS) mutual funds are one such option, and they are one of the most common investment options used under Section 80C to save income tax. The maximum amount that can be deducted is Rs 1.5 lakh. ELSS mutual funds invest in equity and earn market-linked returns, making them one of the riskiest investment options in the 80C basket. The lock-in period for ELSS mutual fund schemes is three years.