By Rahul Pithadia –
Tax Evasion is an illegal attempt to run away from taxes imposed by the federal law practiced by individual and corporations. Such illegal activities may lead to serious criminal charges and substantial penalties. A better option to save tax is to dive in ELSS funds which give tax exemption benefits under section 80 C of Income Tax Act. This will even be a white collar method far better than the unfair route. Here is one of the ELSS picks which provides dual benefits of tax saving and healthy returns on investment.
Axis Long Term Equity Fund – Growth Daily Chart
Axis Long Term Equity Fund –Growth is an open ended Equity Linked Saving Scheme [ELSS] which has a lock in period for 3 years.
Taxation: This fund aims for “SHARE LESS SAVE MORE”. This fund helps the investors to get tax rebates under section 80 C of Income Tax Act.
Portfolio Analysis: The major holdings of this fund are into Banking and Automotive sectors. Below is the table shown of Sectoral allocation of this fund.
Sector Allocation
Returns as on 23rd February, 2016
Risk: This fund has concentrated exposure to sectors and so the risk is high. Also we are seeing loss of momentum on upside which is a caution sign. Fresh investments should be done in form of SIP only with time horizon of three years or more.
Investment rationale: Axis Long Term Equity ELSS Scheme can show some under-performance as the overall equity market is undergoing through sideways to negative correction. The long term uptrend should resume after few months of correction. Till then investments can be done in this fund by way of SIP.
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