Start Saving for Tax 2018 Early by Investing in ELSS Funds Online
Mutual Fund Merger will not have a very significant consequence for investors. The merger will be applicable for only similar funds. Some of the funds will have the disadvantage of becoming very big. But that apart, there is no tax consequence because last year’s budget made a provision that if your fund is getting merged then there will be no tax implication and it will be considered as an old investment.
Earlier, the situation was that a fund merger amounted to redemption of the old investment and new investment being made into the merging fund. So if you were invested in a fund which is merging to another one then there was a tax consequence because if you are sitting on long term gains then it would suddenly got redeemed without you asking for it and then being invested in the new one. And then one had to again wait for 365 days to make it long term investment. Now that problem is not there. Every investor will also get a zero load exit option and the fund merger is fairly mechanical.
You will get units of the new fund on the basis of a simple division. For example, if a fund’s NAV is Rs 50 and the fund in which it is going to merge is Rs 100, then you will get one unit for the two units you are holding. It will be a simple division of the two values.
Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds
Top 10 Tax Saver Mutual Funds for 2018
Best 10 ELSS Mutual Funds to invest in India for 2018
1. DSP BlackRock Tax Saver Fund
2. Invesco India Tax Plan
3. Tata India Tax Savings Fund
4. ICICI Prudential Long Term Equity Fund
5. Birla Sun Life Tax Relief 96
6. Franklin India TaxShield
7. Reliance Tax Saver (ELSS) Fund
8. BNP Paribas Long Term Equity Fund
9. Axis Tax Saver Fund
10. Birla Sun Life Tax Plan
Invest in Best Performing 2018 Tax Saver Mutual Funds Online
For further information contact SaveTaxGetRich on 94 8300 8300
You can write to us at
Invest [at] SaveTaxGetRich [dot] Com
Call us on 94 8300 8300