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Key Features & Benefits of Investing in Axis Long Term Equity Fund


ELSS_Regulatory_Info

23 Jan, 2020

ELSS Regulatory Info

Investors are constantly looking for efficient tax saving investment schemes which can help them earn some extra income too. If you have an appetite for risk and saving taxes is on your mind, then you can consider investing in Equity Linked Saving Scheme or ELSS.

ELSS is a tax saving investment scheme which will not only help you save tax but also increase your chances of building wealth in the long run.

What are these unique features offered by Axis Mutual Fund’s ELSS scheme?

Let’s find out:

  • When you invest your hard-earned money in Axis Mutual Fund’s ELSS scheme you get tax savings up to Rs. 46,800* and chance of building wealth in the long run.
  • ELSS is an open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefits
  • ELSS comes with a short lock-in period of three years.
  • Money invested in equities have the potential to grow through the power of compounding when held for a longer time period. Hence it is advisable to invest in ELSS keeping with a long term investment objective.
  • With ELSS, an investor can plan long-term financial goals such as their retirement, children’s education and their marriage, etc. and the three-year lock-in period gives your investment a chance to grow.
  • Investments in ELSS qualify for tax deductions of up to Rs. 1.5 lakh under Section 80C of the Indian Income Tax Act of 1961.
  • As stated earlier, ELSS has a lock-in period of three years. This means that you won’t be able to redeem your units before the completion of three years at least. So if you want to save tax while aiming to build wealth, invest in Axis Long Term Equity Fund now.

But before investing in Axis Long Term Equity Fund (An ELSS offering from Axis Mutual Fund), it is recommended to first identify your financial goal. Identifying your ultimate financial goal will help you understand how much amount you need to actually invest in ELSS. Having a defined and clear financial goal will not only help you invest smartly, but will help you have a diversified financial portfolio and can help you build a wealthy corpus.

*As per the present tax laws, eligible investors (individual/HUF) are entitled to deduction from their gross income of the amount invested in Equity Linked Saving Scheme (ELSS) up to Rs.1.5 lakhs (along with other prescribed investments) under section 80C of the Income Tax Act, 1961. Tax savings of Rs. 46,800 mentioned above is calculated for the highest income tax slab. Investors are advised to consult his/her own Tax Consultant with respect to the specific amount of tax and other implications arising out of his/her participation in ELSS.

Mutual Fund Investments are subject to market risks, read all scheme related documents carefully.

Disclaimer: Content Produced by Axis Mutual Fund





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