Indiabulls Tax Saver Fund
Indiabulls Mutual Fund has filed its draft offer document with SEBI in regard to Indiabulls Tax Saver Fund.
Type of Scheme
An Open-ended Equity Linked Savings Scheme (subject to lock in period of 3 years from the date of allotment)
As per the present tax laws, eligible investors in the scheme (who are “Assessee” as per the ELSS Rules) are entitled to deductions of the amount invested in the units of the scheme under Section 80(C) of the Income Tax Act, 1961 to such extent (presently one lakh) and subject to such conditions as may be notified from time to time.
The scheme has been formulated in accordance with the Equity Linked Savings Scheme (ELSS) notifications dated November 03, 2005 and December 13, 2005 issued by the Government of India.
Investment objective
The primary investment objective of the Scheme is to generate income and long-term capital appreciation from a diversified portfolio of predominantly equity and equity-related securities.
However there can be no assurance that the investment objective of the scheme will be achieved.
Add commentDecember 7th, 2011