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The New Year is here. Most of us are thinking about the celebrations, sticking to our resolutions or reversing holiday weight gain. But Vinita is concentrating on her investment portfolio. Sigh!
Vinita believes in taking care of her finances. Given her diverse portfolio, who could blame her? She has a good mix of equity and debt exposure. She complements this with short-term investments. Her current dilemma is tax planning. She wants an investment avenue that will help her to save tax while it seeks to yield her potential returns: This is where Aditya Birla Sun Life Tax Relief ’96 Fund, an open-ended equity linked savings scheme (ELSS) with a lock-in of 3 years could help her.
Why? Let’s find out:
Vinita wanted to save taxes and the fund is one of the good option for that. It is an equity-linked saving scheme (ELSS). Investments of up to Rs. 150,000 made by Vinita in the scheme qualify for tax exemption under Section 80C of the Income Tax Act.
Vinita’s concern was with creating maximum wealth. Being an equity-linked scheme, the Aditya Birla Sun Life Tax Relief ’96 invests majorly in equity. This is one of the answers to Vinita’s wealth creation needs. With her two major agendas met, Vinita was happy. But the benefits did not stop there. So, what else did the fund offer?
Aditya Birla Sun Life Tax Relief ’96 comes in two variants. One is the Growth variant, which reinvests the earnings. The other is the Dividend variant, wherein the earnings are paid out in the form of dividends. So, Vinita has a choice. She can choose to receive dividend payouts periodically subject to the available distributable profits, if any and can stay invested for the compulsory three-year lock-in period.
Yes, you heard that right! The fund has no entry or exit load. When you invest, your entire investment goes towards buying units. When you redeem units, you get them at the prevailing net asset value (NAV) without any exit load. Vinita was ecstatic to know this. Aren’t you?
Vinita wanted to invest lump sum amount. What about you? Do you instead want to invest in small monthly instalments instead? The fund allows both types of investments. Pay in a lump sum or choose a systematic investment plan (SIP). Take your pick.
What is in it for you?
Vinita found a tailor-made solution for her financial woes. It seeks to provide potential returns and tax benefits. Besides this, there are flexible investment options and different plan variants. The investments do not have any entry load and so is redemption.
For further details on the Scheme, refer Scheme Information Document and Key Information Memorandum on website of the Fund.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
(An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit)
*We recommend investors to consult their financial advisers in case of doubt about whether the product is suitable for them.
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