New tax regime is here. Time to stop your ELSS investments?

ELSS (Equity-Linked Savings Scheme) funds, also known as tax-saving mutual funds, is having its Kodak moment. Just like the advent of digital photography was a kiss of death for Kodak's decades-old film-based business model, ELSS funds have been in the midst of a severe existential crisis due to the Indian government's tacit phasing away of the old tax regime.