Tax Saving Mutual Fund: Opportunity to earn big with tax savings, investors have become rich in just so many years

new Delhi. If you want to invest then Tax Saving Mutual Fund can be a good option. There is some risk involved in this, but there is also an opportunity to earn big profits. The special thing is that by investing in it, you can also save tax.

Equity Linked Savings Scheme (ELSS) Mutual Fund is considered to be one of the best investments. Here along with excellent returns, there is also tax saving. Under Section 80C of the Income Tax Act, an investor can save up to Rs 1.50 lakh in tax in a financial year.

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Best option for return seekers

For investments that want great returns along with saving tax, mutual funds can be a better option. Union Long Term Equity Fund is a good example of this. Let us know how much return this fund has given since January 2, 2013…

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Know how much return is given

During the last one year, investors of Systematic Investment Plan (SIP) through Union Long Term Equity Fund have got annual returns of 10 per cent and absolute returns of 5.36 per cent. Annual returns of 31 percent and absolute returns of 34 percent have been received through this fund in two years. In three years it has been 25.50 per cent and 45 per cent respectively.

14.55 lakh fund on investment of 1.26 lakh

According to the Value Research website, if an investor invests Rs 10000 every month in this scheme, then after a year it becomes Rs 1.26 lakh. The same investment made from 3 years ago has now increased to Rs 5.20 lakh. Any investor who would have reposed faith in this fund 7 years ago, today his return has increased to Rs 14.55 lakh.

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Tags: investment, Personal finance, Returns of mutual fund SIPs, Tax savings