Is Taxman Bothering You? Invest in the Best ELSS Funds
Knock Knock! Does the tax-man started coming in your nightmares? Maybe yes. The tax time is soon going to approach all and only the ones who are well prepared could bear it efficiently. What’s the current status of your tax planning? All planned? You might have deployed your money warriors in the space of ELSS funds to get victory over the devils of tax-man. Yes of course, most of the people do this to save their kingdom of wealth from the strike of tax-bandits.
ELSS is one of the best choices of all the individuals who are worried to get stroked by the tax-raiders. The best thing about ELSS is that it helps your money warriors, that you deployed in its world, to gain strength in time along with providing the protection from the tax-raiders. The world of ELSS funds is empowered by the Income Tax authority to provide that safeguard to your monies up to a defined limit under section 80 C. Let’s know some of the best ELSS funds that may be beneficial for the investments in the tax season of FY 2017-18:
- DSP BlackRock Tax Saver Fund: Being a scheme of one of the best AMCs in India, DSP BlackRock Tax Saver has made several amendments in the financial life of the investors. It is among the excellent performing and recommended ELSS schemes as it has tracked an excellent record of performance since its launch in the year 2007. It has hardly put the investors into depression other than the crisis of 2008, and its performance in the past five years shows excellent growth among the category. Being an ELSS fund, its primary objective is to provide tax benefits to the investors. Well, it has significantly fulfilled the other one, i.e., wealth creation in the long-term, along with the tax-saving goal of the investors. The current NAV of this scheme has been tracked at Rs. 49.19 as on January 10, 2018.
- Aditya Birla Sun Life Tax Plan: In the space of tax-savings category, Birla Sun Life Tax Plan is one of the most promising schemes. Being an ELSS fund, it has amazingly rewarded its investors with the excellent benefits of taxes. Moreover, it highly targeted toward achieving growth in the capital investments. Thus, it deploys a majority portion of its total assets in the stocks of mid- and small-cap companies. The total assets under management of this scheme is amounting to Rs. 692 crore as on December 31, 2017, and the latest NAV is tracked at Rs. 40.53 as on January 10, 2018. You must invest a chunk of your earning in this scheme to attain wealth and benefits of tax savings.
- Reliance Tax Saver: It is an aggressive performer in the space of tax savings schemes. However, it is holding third rank in the category on the performance dashboard of CRISIL for the quarter ended September 2017, its historical performance graph shows that how well it has managed to perform in the past five years to attain a significant growth. Reliance Tax Saver was launched in the year 2005, and its current assets under management is massively amounting to Rs. 10,758 crore as on December 31, 2017. Other than its primary motto of providing tax benefits under section 80 C of the Income Tax Act, 1961, it also provides a stable approach towards wealth building by plotting the chunks of its total assets in a diversified manner among all small, mid, and large-cap stocks.
- Axis Long Term Equity Fund: Launched in the end of the year 2009 with the predominant motive to provide benefits under 80C to the investors along with helping their seed to grow into a massive tree over the years. Axis Long Term Equity Fund is one of the best schemes in the ELSS category. It has recorded a significant performance in the past and the industry experts have high faith on its future performance too. Moreover, it is also among the best recommended ELSS funds by most of the industry experts. The objective of this scheme, other than tax savings, i.e., wealth building from equities, is to help the investors to gain a healthy income on their investments in a significant period of time. The wealth building approach of this scheme is suitable for those investors who want to travel through the less oscillating way because it majorly deploys its capital in the stocks of large and giant companies.
So, what are you waiting for? The above-mentioned four ELSS funds are among the best recommended schemes by the industry experts. Select the most suitable one as per your risk appetite and investment objectives. Undoubtedly, they all are eligible to provide you with the tax benefit as deduction of up to Rs. 1.5 lakh under section 80 C of the Income Tax Act of India, 1961. They also fetch excellent returns on your investments in the long-term period so that you can attain your objective of wealth creation too.
The tax season has already arrived, and this might be the best time for you to invest and save a significant amount on your taxable income. So, don’t get late to avail all such benefits. Save on your income tax today by investing in the best suitable ELSS scheme through our portal, i.e., MySIPonline, and enhance the experience of your investing in mutual funds. We are one of the fastest growing online investment service providers in India. Get associated with us right away.
- LTCG Tax Is Not As Negative As it Seems; Here’s Why?41634 min read Jan 01, 1970
- Sensex Plunges Over 1000 Points; Should You Buy or Hold Your Investments for Correction?42463 min read Jan 01, 1970
- Sensex Dives Nearly 840 Points: Things to Consider and Experts’ Take43433 min read Jan 01, 1970