Torch Your Tax Liabilities Through Aditya Birla Sun Life Tax Relief 96 Fund

The Indian Taxation system is a complex structure of laws and regulations which often gets altered, which is why it becomes quite difficult to correctly measure the tax liabilities in accordance with the prevailing rules. No matter whether you eat, sleep, breathe or simply exist, you’ll have to pay taxes for all of it. A few years ago, there was tax even on the mortuary services until recently, the government decided to remove that burden. Hence, paying taxes is the worst nightmare for any person on Earth! Thus, investing in a top ELSS scheme, viz. Aditya Birla Sun Life Tax Relief 96 Fund is the need of the hour if you really wish to put a bar on your rising tax liabilities. MySIPonline is the sole place on the internet where you can find all the best mutual schemes of different categories, including the most preferred tax-saving ELSS options. Today, we are going to discuss about one such A-grade tax-saving scheme, Aditya BSL Tax Relief 96 Fund, which apart from topping the charts of the recommended segment, have also procured phenomenal returns for the investors. But before that, let’s have a brief discussion on ELSS Funds so that you will be able to understand every bit of this article, effortlessly. Here comes the knowledge blast!

ELSS Funds - An Outline

Equity Linked Saving Schemes, alias ELSS Funds or “The Tax Hunter”, is a category of mutual funds, preliminary developed to provide a resort to the investors to make a smart investment for the purpose of curbing their soaring tax liabilities, and also earn better returns than what other tax-saving options, such as National Savings Certificate (NSC), Public Provident Fund (PPF), Unit Linked Insurance Plan (ULIP) etc., may fetch them. There are two glorious advantages of these schemes: -

• First, they bear the least lock-in period of three years, which means that you won’t have to bear the distance from your funds for too long, and since a three-year long period is involved in here, you’ll also be able to savour the entire growth cycle of the market.
• Second, these funds fall under the list of qualified investments which are eligible for deduction under Section 80C of the Income Tax Act, 1961. Hence, you can earn a deduction of up to Rs. 1,50,000 from your total taxable income, thus reducing your tax liability up to Rs. 46,350. 

The Mutual Fund Talk - Aditya BSL Tax Relief Fund  

Launched in March, 1996, Aditya Birla Sunlife Tax Relief 96 Fund (Growth) is an old member of the vast mutual fund family of Aditya Birla Sunlife Mutual Funds. With over 2 decades of operation in the market, this fund has crossed many rifts and have climbed many valleys, and have finally reached the summit of the mutual fund industry. With a tough competition given by some other ace funds in the industry, this fund proved itself worthy of being preferred even today where the markets are often caught in turbulences. Let’s expand our discussion beyond the horizon of these clichéd points, and let’s take a look at the following chart which is a condensed version of the most important statistics of this fund: -

Investment in tax-saving mutual funds have become quite easy these days, considering the increasing awareness and raising standards of living. Partnering up with MySIPonline further butters the entire process, as all the best ELSS schemes including Aditya Birla Sun Life Tax Relief Fund can be found under one roof. So, no more blubbing! Only happy tax saving!