|
 |
|
 |
|
|
|
| Home > Offerings > Equity Funds > IDFC Tax Saver (ELSS) Fund |
|
 |
| |
This Scheme is a Closed ended Scheme and is currently Closed For Subscription
IDFC Tax Saver (ELSS) Scheme is a ten year close-ended equity linked savings scheme. It is a scheme formulated under the Equity Linked Savings Scheme, 2005, issued by the Indian Central Government. Accordingly, investment made by individuals, HUFs and / or specified category of BOI / AOPs (as per ELSS notification) in the Scheme up to a sum of Rs. 100,000 in a financial year would qualify for deduction under Section 80-C of the Act. Investors other than these specified investors shall not qualify for the tax benefit as mentioned under Section 80-C of the Income Tax Act.
The investment objective of the Scheme is to seek to generate long-term capital growth from a diversified portfolio of predominantly equity and equity-related securities. In accordance with ELSS, investments in equity and equity related instruments shall be to the extent of at least 80% of net assets of the Scheme.
Investments in the scheme shall be locked in for a period of 3 years from the date of allotment.
How to redeem?
Units can be redeemed / switched out only after the expiry of lock-in period of three years. Thereafter the Units can be redeemed (i.e., sold back to the Fund), at the Applicable NAV (hereinafter defined) on relevant business days. Repurchase facility is available on all business days on completion of lock in period of 3 years from the date of allotment.
The lock in period may be changed prospectively if so permitted by the applicable regulations (SEBI Regulations and the ELSS guidelines). A Unit holder may request redemption of a specified amount or a specified number of Units, (subject to the minimum redemption amount which is presently in multiples of Rs. 500/-) the number of Units specified will be considered for deciding the redemption amount. |
| |
| |
| |
|
|
| |
| |
|
|
labs