In ELSS funds it's not possible because there is a lock in for 3 years after that u can switch.But in other open ended fund it's possible.In this case,it'll be considered that exit from one plan and changed to other plan in the same scheme.hence for Equity Oriented open ended fund,it'll attract a Security Transaction tax (0.25%) from the exiting fund(Dividend Reinvestment option) and an entry load of Growth Fund(2.25%) is also applicable.
