Mirae Asset Tax Saver Fund is open for subscription now.One can invest in ELSS scheme of mutual fund and avail tax benefit u/s 80C up to investment of Rs.1,50,000/-.
Few comparable 80C investment options available for investors:
| Instrument | Returns | Lock In Period | Taxation |
| ELSS | Market Linked | 03 Yrs | Tax Free Dividends / Withdrawal |
| PPF | 8.70% | 15 Yrs | Tax Free Interest |
| NSC – 05 Yrs | 8.50% | 05 Yrs | Interest Taxable |
| NSC – 10 Yrs | 8.80% | 10 Yrs | Interest Taxable |
| Bank Deposits | 7-8% | 05 Yrs | Interest Taxable |
| Unit Linked Insurance Plan – ULIP | Market linked | 05 Yrs | Returns Tax Free if life cover is minimum 10 times of premium |
Why ELSS Scheme:
- ELSS being diversified Equity oriented Fund invests min 80% of corpus in equity.It has potential to provide higher returns if units are held for longer period.
- ELSS has lowest lock in period of 03 yrs.One can continue or withdraw after completion of 03 yrs.
- If dividends are opted then dividend is tax free in hands of investors.Dividends are not guaranteed but generally any profit making ELSS scheme declares dividends at least once in year.
Performance of other Mirae Asset Equity Schemes Viz. Mirae Asset India Opportunities fund & Mirae Asset emerging Bluechip is good.Same can be expected from this ELSS scheme – Mirae Asset Tax Saver Fund.
Fund is open for initial subscription from Nov 20 to Dec 18, 2015.It will reopen for continuous subscription from Dec 29, 2015.
