LIC Mutual Fund Tax Plan: Life Insurance Corporation of India, the country’s largest insurance company, has been bringing more than one plan for its investors. Let us tell you that these are superhit schemes investing money in LIC’s shares.
getting high returns
Let us tell you that it is definitely taking a long time for the investors, in which it is giving you good returns. This is a mutual fund scheme that saves you tax, which is being known as LIC Mutual Fund Tax Plans.
What is Linked Savings Scheme
It is known that this is a scheme of Equity Linked Savings Scheme i.e. ELSS category. Where the benefit of tax exemption is given on investment. This scheme has helped long-term investors to create a large fund. Here the lump sum investment has been received more than 15 times during 20 years. At the same time, investors have also become rich through SIP.
what is the scheme
One is the scheme of ELSS category of mutual funds, where one can take advantage of tax exemption on investment. Second, here you are getting higher returns than other tax saving schemes i.e. FD or NSC. The lock-in period in LIC MF Tax Plan is 3 years, but here you can keep money for a longer period. The portfolio of this fund has a large number of shares of large cap companies, which provides safety, that is, the risk is low.
See how much is the return
20 Year Return: 14.5% CAGR
Value of 1 lakh in 20 years: Rs 15.53 lakh
Benefit: 14.43 lakh
Value of Rs 5000 Monthly SIP: 600000
Total investment in SIP: 130000 rupees
Benefit: 47 lakh rupees
Asset Allocation: 94% in equity, 6% in debt
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