Wednesday, November 25, 2009

[Investors] Religare Tax Plan - an open-ended Equity Linked Savings Scheme (ELSS)

Religare Tax Plan - an open-ended Equity Linked Savings Scheme (ELSS) with a lock-in period of 3 years, seeks to generate long term capital growth from a diversified portfolio of predominantly equity and equity related securities. Its performance has been in the top quartile in the recent past. The scheme has generated a 1 year CAGR of 81.36% while the benchmark indices 'BSE 100' rose by 68.21% during the same period. The fund has outperformed its benchmark in 2 years, 1 year and 6 months tenure.

 

A few strengths & characteristics of ELSS:

 

  • Tax Saver Funds have a lock-in period of just 3 years – in comparison, theother tax saving instruments like NSC / Bank Fixed Deposits / PPF have aminimum lock-in period of 5 to 6 years.
  • The dividends which you receive for your investments in Tax Saver Funds are completely tax free in your hands.
  • Tax Free Profits - Currently, capital gains arising at the time of redemption are exempt from tax thus allowing you to keep more of what is yours.
  • Tax Exemption Twice in 6 Years – You can withdraw your tax saver funds at the end of 3 years and if you reinvest the same* , you get tax exemption twice in six years compared to just once in case of NSC.
  • Return Potential - Tax Saver Funds invest in equities; which despite the short term volatility have the potential to build wealth over the long term. As these funds have a 3 years lock-in, the fund manager tends to deploy majority of the assets in equity with a long-term perspective; thus having the potential to deliver superior returns over the long term.

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Safe Harbor:

The information contained and provided on this Website provides Investment advice for the education of investors. The posts are an information service only. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. We do not assume any responsibility or liability resulting from the use of such information, judgment and opinions for Trading or Investment purposes.
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