Save tax and Plan your retirement with Mutual Funds
For most of the people,
retirement is the most ignored financial goals. But is should be the in the
priority goals of every individual. We start chasing our short term goals like
buying a car; buying a new smartphone, vacation etc. from the beginning of our career
which gives us short term satisfaction. In spite of this most of our savings should
be channelized in achieving our Retirement Goal. Visit your best financial advisor in Lucknow and plan your retirement investment. One should channelize all his
short term desire to achieve two main goals,
1.
Saving Tax
2.
Retirement Planning
As per rule, under section 80C, a
deduction of Rs 1, 50,000 can be claimed from your total income every year. If
we say this in simple terms, it means you can reduce up to Rs 1, 50,000 from
your total taxable income through section 80C. This tax deduction is allowed to
an individual or a HUF (Hindu Undivided Family). To save tax, people normally
invest in PPF (Public Provident Fund
scheme) and other investment schemes
which have a long lock in period.
When you are ready to invest for
such a long period than why not to invest in Equity? Investing in equity is the
best investment idea for higher return, as equity is less risky and more
rewarding in long term. You can invest in Equity Linked Savings Schemes (ELSS) mutual
funds to save tax under section 80C. It is one of the best investment schemes
with great return.
What is ELSS?
An ELSS (Equity Linked Savings
Scheme) is an open-ended Equity Mutual Fund. ELSS scheme not only helps you to save
tax, but also gives you an opportunity to grow your money with good rate of
interest. It help individual to get tax relief under section (u/s) 80C of the
Indian Income Tax Act.
Along with the tax deductions, an
ELSS scheme also offers you the opportunity to grow your money by investing in
the equity market. ELSS investment scheme carries a lock-in period of 3 years. There
is another best investment plan i.e.; you can also choose to invest through a
Systematic Investment Plan and bring discipline to your tax planning.
Here's how it ELSS scheme work. Let’s
say, one invests Rs 12,500 per month in ELSS for 25 years of one's working life
towards retirement. By assuming a growth rate of 12 percent per year, then the
corpus could be nearly Rs 2.12 crores, which could be part of one's retirement
portfolio in addition to other investments earmarked for retirement.
|
SCHEME NAME |
3 Year |
5 Year |
10 Year |
15 Year |
|
|
|||||
|
Rs 3 Lacs |
Rs 5 Lacs |
Rs 10 Lacs |
Rs 15 Lacs |
||
|
|||||
|
Maximum ELSS Return |
₹ 4,41,203 |
₹ 8,98,110 |
₹ 26,14,434 |
₹ 82,92,953 |
|
|
Minimum ELSS Return |
₹ 3,50,048 |
₹ 7,25,657 |
₹ 19,86,361 |
₹ 48,77,739 |
|
|
Average ELSS Return |
₹ 3,89,498 |
₹ 8,08,623 |
₹ 23,01,979 |
₹ 69,33,800 |
|
|
S & P BSE Sensex |
₹ 3,72,791 |
₹ 6,97,401 |
₹ 17,71,240 |
₹ 47,32,426 |
|
|
PPF Calculated @ Actual Rates |
₹ 3,50,839 |
₹ 6,37,886 |
₹ 15,94,563 |
₹ 30,01,347 |
|
From the above report you can
also calculate returns that are generated from various schemes on certain time
duration. This report does not guarantee its validity or completeness it is
just an overview or an idea how you can get better return through investment in
any mutual fund schemes. Neither any information nor any opinions expressed
constitute an offer to buy or sell any fund. Investors should take financial
advice from best financial advisor in Lucknow and then they may invest in best suitable
scheme as per their asset. Mutual fund investments are subject to market risk.
Please read Scheme related Document carefully before investing.
For more consult:-
Best financial advisor in Lucknow
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