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Wednesday, September 7, 2011

Axis Tax Saver fund is now "Axis Long Term Equity Fund"



With effect from September 2, 2011, Axis Mutual Fund had changed name of its Axis Tax Saver Fund to Axis Long Term Equity Fund. The new scheme will be an open ended equity linked saving scheme with 3-year lock in.

Below are the scheme details:
ISIN
Old Scheme Name
New Scheme Name
INF846K01131
AXIS TAX SAVER FUND - GROWTH - GROWTH
AXIS Long Term Equity Fund Growth
INF846K01156
AXIS TAX SAVER FUND - DIVIDEND OPTION - REINVESTMENT
AXIS Long Term Equity Fund Dividend Reinvestment
INF846K01149
AXIS TAX SAVER FUND - DIVIDEND OPTION - PAYOUT
AXIS Long Term Equity Fund Dividend Payout


6 comments:

  1. is axis bank long term equity fund tax saving plan under 80cc

    ReplyDelete
  2. Hi Tina,

    As you check above the scheme name changed, earlier Axis Long term Equity fund was named as Axis Tax Saver.

    Yes this is ELSS Fund that is Equity linked Savings Scheme.

    Yes you will get tax benefits under section 80C of the Income Tax Act, 1961
    This scheme is Locked -in period of only 3 years and is the lowest amongst all section 80C options available today
    Suitable for an investment horizon of 5 years or more

    ReplyDelete
  3. when i withdraw the axis long term equity fund??

    ReplyDelete
  4. You can redeem units in axis ling term equity fund after three years from the purchase date.

    ReplyDelete
    Replies
    1. to save tax should i invest in Growth/Dividend/reinvestment

      Delete
    2. If you are investing in Tax Saver Fund for tax benefit in Axis - you can select any option that is dividend, growth or reinvestment.
      but, i feel investing in growth or dividend payout is better option in ELSS Fund, as dividend reinvestment results in blocking your units for again three years as an when dividend is declared and reinvested.

      Delete

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