Nov 03, 2016 2 min read

Want to Save Taxes? Invest in Axis Long Term Equity Fund

As soon as the financial year ends, everyone starts looking for tax planning tools to get exemptions from tax liability. Read this blog to know how Axis Long Term Equity Fund is among the best ELSS funds to attain the dual benefits of earning higher returns and tax savings.
Just before filing the income tax return every year, one looks out for various schemes and strategies to reduce the tax liability. And then, one picks up any random plan in haste to lessen down one’s net taxable income. Everyone has a single criterion in mind, i.e., saving tax amount. But, what if we can save and earn more?

None of us desire to share our hard-earned money with the taxman. The Government has provided various solutions to the individuals to save the tax liability in a legitimate manner. It also encourages savings and investments to help the economy grow further. For the purpose of saving tax in India, one of the first mutual fund classes to remark is the Equity Linked Saving Scheme(ELSS).

Today, we have focussed on explaining one of the top-performing ELSS funds in India, i.e., Axis Long Term Equity Fund. It must be considered while making a selection of the tax saving solution for a worthwhile portfolio. Axis Long-Term Equity Fund is a mutual fund programme which provides the best solutions to make a better tax-saving plan. It is designed by a renowned brand in the mutual fund industry, i.e., Axis Mutual Fund.

We recommend this strategy to the investors because of its stable performance in the industry for so long. It has been consistently ranked first as per CRISIL rating in the past years and has outperformed its benchmark and category average. There are different reasons due to which it is considered among the best ELLS funds which are mentioned below:

  • It has a dynamic portfolio and accordingly fetches the benefit of the best opportunities.
  • It has investments in the blue chip companies and maintains a solid base of their shares to stabilise the performance.
  • It has sound investments in the mid-cap stocks as well to gain more returns in the long run.
  • Its main focus is on yielding long-term capital growth and hence it has made investments in the shares that offer long-term benefits.
  • The fund manager of Axis Equity Long-Term Fund is highly experienced and is consistently managing the scheme for a long time.

ELSS funds fall under the equity asset category and thus offer long-term capital appreciation as well. But they are considered only for saving the taxes by the investors. One must understand the concept of ELSS and should not make the investment decision in haste. Instead, opt for a plan that could yield the dual benefits of high profits and tax exemptions.

We always encourage investors to gain equity exposure as it beats inflation in the long run. The Axis Long-Term Equity Fund is also the plan that can help you grow wealth in the long run and provide the tax relief on the capital gains as well. As per the EEE model of the Income Tax Act, one gets an exemption from the amount invested, returns earned, and the capital gain at the time of redemption.

Henceforth, we highly recommend that instead of making ELSS just a tool for saving taxes, make it plan for achieving the long-term investment goals. MySIPonline suggests the Axis Long Term Equity Fund as one of the best ELSS plans to make a worthwhile investment. Take a smart decision of investing, get our services and secure your future.