HomeLifestyleThis fund has made investors millionaires, making Rs 9 crores by investing...

This fund has made investors millionaires, making Rs 9 crores by investing ₹ 10,000 monthly!

Highlights

Taxpayers invest in many options for tax saving.
ELSS is an equity mutual fund category
In which tax exemption is available on investment under section 80C of the Income Tax Act.

New Delhi. In today’s time, investors want to invest in such places, where they can get good returns. Along with saving and investing, you can create a fund of crores along with tax saving wisely. There are many schemes in the market where there is definitely some risk as compared to the schemes with guaranteed returns, but the returns can be double or even triple.

Among these, Equity Linked Savings Scheme (ELSS) of Mutual Funds is an option in which tax exemption is available under Section 80C of the Income Tax Act on investments. This can help in creating a bigger corpus for the investors in the long term. Today we are talking about HDFC Taxsaver Fund which has made investors millionaires.

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HDFC Taxsaver Fund
This fund was launched on March 31, 1996. HDFC Taxsaver Fund Regular Plan – Growth Option has been around for 26 years now. The fund has given SIP returns of 21.27% as on March 31, 2022. An investment of Rs 10,000 thousand every month in HDFC TaxSaver since the inception of the fund will total Rs 31.20 lakh in 26 years giving an investment return of Rs 9.39 crore till March 31, 2022.

ICICI Bank Ltd., HDFC Bank Ltd., State Bank of India, Bharti Airtel Ltd. and Hindustan Aeronautics Ltd. are the top 5 holdings of the fund. The fund has 95.52% exposure to domestic equities, of which 84.71% are large-cap companies, 7.56% are mid-cap stocks and 3.25% are small-cap stocks.

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How to invest in ELSS?
KYC is necessary for investing in ELSS. You have to fill the form along with the cheque at the branch office or registrar office of the fund house. One can also invest in ELSS online through the fund house website or through aggregators. You get a folio number when you start investing in ELSS. By giving this folio number, investment can be made in ELSS scheme in future.

Tags: business news, Business news in hindi, Money Making Tips, Small Saving Schemes

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