Thursday, 29 March 2012

Top performing tax Saving ELSS

You have hardly two days to save income tax through tax saving investments for the financial year 2011-12. As you know investing in ELSS – Equity Linked Saving Scheme (Tax saving mutual fund) has a lock in period of three years and you can get tax exemption, and at the same time you can withdraw money after three years.

Now investing in ELSS (Tax saving mutual funds) are very much easy through your Demat account. With a few mouse clicks you can purchase or sell a mutual fund. So hurry up to invest in tax saving mutual funds and save your tax under section 80C of income tax act which allows you to save up to Rs. 100000 income from income tax.

Following are four top performed ELSS in the last three years in which you can invest to save your tax. In the case of mutual fund it is not necessary that the same performance should continue in future. It may improve or decline in future. But when you invest, it is good to invest in a scheme which has good performance history.  This may be changed a per your risk appetite or investment strategy. This is only information purpose which you may follow or not. When you invest in mutual fund or any such stock market related investments, do your own home work and analyze the financial instrument in your own way and invest only if it is satisfied your norms and financial goals.

ICICI Prudential Tax Plan - Growth

ICICI Prudential Tax Plan (Growth) has a latest NAV of Rs. 133.55 as on 28th March, 2012. This is an open ended Growth fund and completed 13 years since inception of the Mutual Fund.

NAV as on 28 March, 2012      : Rs. 133.55

Category of the Fund                :  Tax Saving Funds

Fund Option                               :  GROWTH

Fund Type                                  :  Open Ended

Benchmark                                 : S&p Cnx 500 Equity Index

Fund Size                                    :  1,336.5 Crores

Fund Age                                    :  13 Years

Lock In Period                           :  3 Years

Last Three years return          :  33%

HDFC Tax Saver Fund – Growth

HDFC Tax Saver Fund  (Growth) has a latest NAV of Rs. 218.31  as on 28th March, 2012. This is an open ended Growth fund and completed 16 years since inception of the fund.

NAV as on 28 March, 2012   : Rs. 218.31

Category of the Fund             :  Tax Saving Funds

Fund Option                            :  GROWTH

Fund Type                               :  Open Ended

Benchmark                              : S&p Cnx 500 Equity Index

Fund Size                                 :  2884.6 Crores

Fund Age                                 :  16 Years

Lock In Period                        :  3 Years

Last Three years return        :  31 %

Fidelity Tax Advantage Fund – Growth

Fidelity Tax Advantage (Growth) has a latest NAV of Rs. 20.71 as on 28th March, 2012. This is also an open ended Growth fund and completed 6 years since inception of the Mutual fund.

NAV as on 28 March, 2012  : Rs. 20.71

Category of the Fund            :  Tax Saving Funds

Fund Option                           :  GROWTH

Fund Type                              :  Open Ended

Benchmark                             : Bse 200

Fund Size                                :  1296.2 Crores

Fund Age                                :  6 Years

Lock In Period                       :  3 Years

Last Three years return      :  27 %

Franklin Taxshield Fund – Growth

Franklin Taxsheild Fund (Growth) has a latest NAV of Rs. 208.66 as on 28th March, 2012. This is also an open ended Growth fund and completed 13 years since inception of the Mutual fund.

NAV as on 28 March, 2012   : Rs. 208.66

Category of the Fund              :  Tax Saving Funds

Fund Option                             :  GROWTH

Fund Type                                :  Open Ended

Benchmark                               : S&p Cnx 500 Equity Index

Fund Size                                  :  870.2 Crores

Fund Age                                  :  13 Years

Lock In Period                         :  3 Years

Last Three years return        :  28 %

There may be other mutual funds also shows a good track record. If you feel so you can choose them also. Save tax as you can and know that it is legal to save tax as per rule. When you pay tax you are saving your land and when you save tax you are also saving your land and yourself. With this saving you can find a source to reach out your financial goals. When the Lock in period of ELSS ends you can withdraw the money or can switch over to more profitable investment schemes.

Top performing tax Saving ELSS


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