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An open ended equity linked saving scheme providing tax saving benefits
An open ended Equity Linked Savings Scheme which provides tax deduction on the investments made in the fund up to the limits specified u/s 80C of the Income Tax Act, 1961. It has a minimum lock-in period of 3 years and aims for wealth creation over a longer period of time.
W.e.f. 01-08-2009 - Exit load : Nil (Lock-in-period of 3 years from the date of for each investment)
SWP/Redeem/SIP/STRIP/Switch
Not Applicable
Equity and Equity Related Instruments: 80-100% (Medium to High) Money Market instruments and other liquid instruments: 0-20% (Low to Medium)
The funds collected under the scheme shall be invested in equities, fully convertible debentures/bonds and warrants of companies. Investment may also be made in issues of partly convertible debentures/bonds including those issued on rights basis subject to the condition that, as far as possible, the non-convertible portion of the debentures/bonds so acquired or subscribed shall be disinvested within a period of twelve months from their acquisition.
Tax Saving
An open ended equity linked saving scheme with a statutory lock in of 3 years and Tax Benefit
• The Fund provides dual benefits of sound returns potential by investing in equity securities and savings on taxes. • The fund has a diversified portfolio approach by investing across market capitalization and sectors • The Fund focuses on businesses having healthy return ratios, cash flows and sound management, with an aim to provide superior risk adjusted return • It offers shorter lock-in period of 3 years as compared to other traditional tax saving instruments
This product is suitable for investors who are seeking*: Long term capital growth. Investment in equity instruments of companies that are believed to have growth potential. Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
- Investors looking for overall portfolio diversification - Investors who want growth with limited downside risk to their portfolio - Investors looking for tax efficient returns - Retirees looking for moderate and stable returns with low volatility - First time mutual fund investors
An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit. The Fund invests in leading companies across sectors, with an aim to provide superior risk adjusted return and looks for opportunities across market capitalization.
ELSS (Equity Linked Saving Scheme) is an open-ended equity mutual fund with a statutory lock-in of 3 years and tax benefit. They are also known as tax-saving funds. The Income Tax Act, under section 80C, allows taxpayers to invest up to INR 1.5 lakh in ELSS schemes and claim it as a deduction from their taxable income.
UTI Long Term Equity Fund (Tax Saving) has given 15.41% CAGR since inception of the fund in Dec 15, 1999 as against benchmark index Nifty 500 14.46% as of September 30, 2021. For more details kindly visit UTI Mutual Fund
Investors can simply log on to utimf.com or use UTI Buddy Application and start investing subject to KYC compliance. Investors may also approach nearest UTI Financial Centres (UFCs). Alternatively, you may also approach your mutual fund distributor, financial advisor or various online platform for investments.
The NAV of UTI Long Term Equity Fund (Tax Saving) is Rs. 145.0712 for Regular Plan Growth option as of September 30, 2021. The same can be accessed by visiting UTI Mutual Fund website https://www.utimf.com/mutual-fund-products/solution-based-funds/uti-long-term-equity-fund-tax-saving/
As per the present tax laws, eligible investors (individual/ HUF) are entitled to deduction from their gross total income, of the amount invested in equity linked saving scheme (ELSS) up to Rs. 1,50,000/- (along with other prescribed investments) under Section 80C of the Income Tax Act, 1961. Tax benefits are subject to the provisions of the Income Tax Act, 1961 and are subject to amendments, from time to time.
The primary objective of the scheme is to invest predominantly in equity and equity related securities of companies across the market capitalization spectrum. Securities shall also include fully/ partly convertible debentures/ bonds.