What is the future of axis long term equity fund?
Scheme Rating Current NAV: The Current Net Asset Value of the Axis Long Term Equity Fund as of 30 Jun 2022 is Rs 58.3235 for Growth option of its Regular plan 2. Returns: Its trailing returns over different time periods are: -11.74% (1yr), 8.98% (3yr), 9.49% (5yr) and 15.18% (since launch).
Can I withdraw Axis Long Term Equity Fund?
You can withdraw freely only after that period The returns on this fund is tax free provided that you do not withdraw within 1 year. You can invest up to Rs. 1 lakh a year in this fund and deduct the amount from your gross total income while computing your income tax.
Can we break Axis Long Term Equity Fund?
If you do not need to invest in the scheme to save taxes anymore, you can stop the SIP immediately However, you can sell your investments in ELSS only after the completion of the mandatory lock-in period of three years.
Which ELSS is best?
- Axis Long Term Equity Fund.
- Canara Robeco Equity Tax Saver Fund.
- mirae asset tax saver fund.
- Invesco India Tax Plan Fund.
- DSP Tax Saver Fund.
Is ELSS tax free?
The long-term capital gains on ELSS are tax-exempt up to Rs 1 lakh , and dividend received is tax-free in the hands of investors. You can continue to invest in this scheme even after the completion of the lock-in period of three years.
Is ELSS better than PPF?
PPF is the most tax friendly 80C investment option since its maturity proceeds are entirely tax free. After PPF, ELSS is one of the most tax friendly 80C investment options ELSS capital gains of up to Rs 1 lakh in a financial year are tax free. Capital gains in excess of Rs 1 lakh are taxed at 10%.
How do I invest in Axis ELSS?
You can seamlessly invest in ELSS through Axis Bank’s online platform The minimum amount for most ELSS plans is as little as Rs 500 with no upper limit. However, only a sum up to Rs 1.50 lakh per financial year is eligible for deduction under Section 80C.
Can I stop ELSS before 3 years?
Can ELSS be Withdrawn Within 3 years? The simple answer to this question is No. ELSS investments do not provide the option to withdraw the investment amount before the end of the 3-year lock-in period In ELSS, investors are given fund units against their invested amount.
Which is better Axis Bluechip or Axis Focused 25?
It is the second section in the comparison of both the schemes. The comparison of performance section reveals that in most time intervals, the returns generated by Axis Focused 25 Fund is higher as compared to the returns generated by SBI Blue Chip Fund.
Is Axis Mutual Fund good?
The Axis Long Term Equity Fund is a very successful fund It has been around for more than 10 years and has delivered over 18% annual returns since inception. Remarkably, the fund’s performance has been high and consistent.
How do I redeem Axis Long Term Equity Fund Growth?
To do it physically, you need to fill in a transaction slip, which you can download from the fund house website or detach from the end of your account statement The redemption application can be submitted at any of the fund house official points of acceptance of transactions, across the country.
Is ELSS covered under 80C?
Equity Linked Saving Scheme (ELSS) or a tax saving mutual fund schemes helps investors to save taxes under Section 80C of the Income Tax Act 1961 The investments in ELSS are subject to a lock-in period of 3 years and qualify for a tax deduction of up to Rs 1.5 lakh.
Can I invest in 2 ELSS funds?
You may invest in two or three ELSS funds to build an ideal portfolio You could consider investing in ELSS funds with complementary strategies from different asset management companies.
Which SIP is best for tax saving?
- Best Performing SIP Funds to Invest in Equity Linked Saving Scheme (ELSS) FY 22 – 23.
- Top 6 Equity – ELSS Funds. BOI AXA Tax Advantage Fund. Mirae Asset Tax Saver Fund. IDFC Tax Advantage (ELSS) Fund. Canara Robeco Equity Tax Saver. DSP BlackRock Tax Saver Fund. UTI Long Term Equity Fund.
Is ELSS safe?
ELSS funds have a lock-in period of 3 years , the shortest among all options eligible for tax saving under Section 80C. Public Provident Fund has the highest lock-in of 15 years whereas other options like Tax saving FDs, Life Insurance Policy and National Savings Certificate have lock-in periods ranging from 5-10 years.
How good is Axis Triple Advantage Fund?
1. Current NAV: The Current Net Asset Value of the Axis Triple Advantage Fund as of 30 Jun 2022 is Rs 26.9049 for Growth option of its Regular plan. 2. Returns: Its trailing returns over different time periods are: -2.61% (1yr), 10.51% (3yr), 9.17% (5yr) and 8.69% (since launch).
How do I redeem my ELSS after 3 years?
In ELSS, every instalment has to complete the 3-year lock-in period. Therefore, if you invest in ELSS via SIP, after 36 months you can only redeem the units allotted in the first SIP instalment Subsequent ones will become available for redemption as and when they complete the three year tenure.
When can we redeem Axis Long Term Equity Fund?
The fund has a lock-in period of 3 years. It means, you cannot redeem any units before the completion of three years from the date of investment Your capital is invested in the market for at least three years.
Should I invest in ELSS now?
ELSS fund has the shortest lock-in period among all tax-saving investment options. The units are free for redemption after 3 years. This leads some investors to think that the time horizon for an ELSS fund is just 3 years, but that’s not true, and one shouldn’t invest in ELSS if the investment horizon is only 3 years.
Can I continue my ELSS after 3 years?
You don’t have to necessarily exit after 3 years The common mistake is that most investors tend to book profits on their ELSS the moment the 3 year lock-in period is completed. Remember, the 3 year lock in period is just for your tax break. You can actually hold on to the ELSS fund as long as you want.
Should I continue ELSS after 3 years?
Simply put, you feel that selling ELSS after the three-year obligatory lock-in period and reinvesting the proceeds will help you avoid taxes You won’t have to set aside any new funds for tax-saving investments because you won’t have to. This has been a long-standing practice among investors.
What happens if I stop ELSS SIP?
There is no penalty charge for cancelling or stopping an SIP The SIP investment can also be paused for a specific period of time. ELSS funds have a lock in period of 3 years, which means that the units of mutual fund that one purchased will become available for withdrawal after 3 years.
How much tax can be saved from ELSS?
An equity-linked savings scheme or ELSS is a tax-saving investment under Section 80C of the Income Tax Act, 1961. By investing in ELSS, you can claim a tax rebate of up to Rs 1,50,000 a year and save up to Rs 46,800 a year in taxes. An ELSS is the only kind of mutual fund eligible for tax benefits under Section 80C.
Is SIP same as ELSS?
There is no difference between ELSS and SIP as such ELSS funds have a lock-in period of at least three years. Meaning, you cannot withdraw your money for three years. If you invest in ELSS via SIP route, each investment will be locked in for a period of three years, from their respective investment date.
Which SIP is best for 10 years?
- Aditya Birla Sun Life Digital India Fund
- Franklin India Technology Fund
- ICICI Prudential Technology Fund
- PGIM India Global Agribusiness Offshore Fund
- SBI Technology Opportunities Fund
- TATA Digital India Fund.
Which mutual fund is best for 5 years?
- HDFC Short Term Debt Fund. This is a short duration fund, moderately low-risk debt mutual fund
- Aditya Birla Sun Life Savings Fund
- SBI Magnum Medium Duration Fund
- Nippon India Low Duration Fund
- L&T Low Duration Fund.
Does ELSS give dividend?
If you invest in an ELSS mutual fund scheme, you may or may not choose to obtain a dividend from your investment If you select the dividend payout option, you qualify to receive it if the fund declares any. You may gain a dividend even during the 3-year lock-in period.
Can I invest more than 1.5 lakh in ELSS?
There is no legal restriction on the maximum amount invested in an ELSS , though the deduction under Section 80C is limited to Rs 1.5 lakh only.
Can I claim ELSS every year?
Tax deductions under Section 80C can be only claimed during a financial year , i.e. if an individual invests in an ELSS Fund in July 2015, deductions can be claimed for the financial year 2015-16.
Which ELSS fund is best in 2021?
- Quant Tax Plan.
- Mirae Asset Tax Saver Fund.
- IDFC Tax Advantage (ELSS) Fund.
- Canara Robeco Equity Tax Saver Fund.
- PGIM India ELSS Tax Saver Fund.
- DSP Tax Saver Fund.
- Kotak Tax Saver Fund.
- ICICI Prudential Long Term Equity Fund (Tax Saving)
Which is the best ELSS to invest in 2020?
- Axis Long Term Equity Fund.
- Invesco India Tax Plan.
- DSP Tax Saver.
- Kotak Tax Saver Fund.
- Mirae Tax Saver Fund.
- Canara Robeco Equity Tax Saver Fund.
- Motilal Oswal Long Term Equity Fund.
- The Bottom line:
Can I claim both PPF and ELSS?
With both ELSS and PPF, you can get a maximum deduction of INR 1.5 Lakh under Section 80C of the Income Tax Act, 1961.
References
https://scripbox.com/mutual-fund/axis-long-term-equity-fund-growth
https://www.axismf.com/mutual-funds/equity-funds/axis-long-term-equity-fund/ts-gp/regular#:~:text=Axis%20Long%20Term%20Equity%20Fund%20is%20a%20diversified%20equity%20linked,amongst%20other%20tax%20saving%20instruments.
https://groww.in/mutual-funds/category/best-elss-mutual-funds
https://kuvera.in/explore/axis-long-term-equity-growth–TSDG-GR
https://www.moneycontrol.com/mutual-funds/nav/axis-long-term-equity-fund-regular-plan/MAA011
