Birla Sun Life Focused Equity Fund – Series 3
Birla Sun Life Focused Equity Fund is a close ended equity fund. This New Fund Offer (NFO) will close on October 21, 2014. There is a lock-in period of 3 years from the date of allotment for this scheme. The investment in this scheme is considered as Eligible Securities under Rajiv Gandhi Equity Savings Scheme, 2013.
Investors can get tax benefit for their investment in this scheme under section 80CCG. They can get a tax benefit for a maximum investment amount of Rs. 50,000 and Rs. 25,000 (50% of the amount) is allowed for tax emption. For instance, if Rs. 50,000 is invested in this fund, investors can exempt Rs. 7,725 each year if their income is less than Rs. 12 lakhs.
First-time investors can save more tax. The returns on this investment are completely tax-free on its maturity. However, it is better to get advice from tax advisors before investing in this scheme. Birla Sun Life Focused Equity Fund is ideal for investors who seek long-term growth for their capital which lies in high risk category.