Mutual Funds

Indiabulls Mutual Fund Launches Tax Savings Fund

Posted On : 2017-09-25 10:11:26( TIMEZONE : IST )

Indiabulls Mutual Fund Launches Tax Savings Fund

- An ELSS Scheme offering tax benefits under Sec 80C
- Save tax upto Rs.46350* on an investment of Rs.1.5 lakhs
- Lowest lock-in of 3 years compared to other Sec 80 C investments

Indiabulls Mutual Fund has announced the launch of their "Indiabulls Tax Savings Fund", an open ended Equity Linked Savings Scheme (ELSS), which helps you to save tax now and earn capital appreciation in the future. The investments in Indiabulls Tax Savings Fund in a financial year are qualified for a deduction under Section 80C of the Income Tax Act, 1961, subject to the fulfillment of the relevant conditions.

The investment objective of the Indiabulls Tax Savings Fund is to generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related Securities.

"Digitisation of the economy and roll out of GST will ensure widening of tax base in the country. More people will invest in notified Sec 80 C investments like ELSS for tax rebates. The Indiabulls Tax Savings Fund is launched to help investors avail the dual benefits of Saving Tax as well as the Potential to Growtheir savings. Since the investments are made in equity and equity related securities, the returns post completion of the mandatory 3 year lock-in are tax free in the hands of the investors" said Mr. Akshay Gupta, Group Executive Head & CEO - Indiabulls Asset Management Company Limited.

Shares of Indiabulls Housing Finance Ltd was last trading in BSE at Rs.1202.75 as compared to the previous close of Rs. 1242.6. The total number of shares traded during the day was 122891 in over 4106 trades.

The stock hit an intraday high of Rs. 1241.5 and intraday low of 1155.6. The net turnover during the day was Rs. 146900027.

Source : Equity Bulls