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Equity Funds

ICICI Prudential Tax Plan

There are various opportunities that individuals can avail, to save tax u/s 80C of Income tax Act like Public Provident Fund, National Savings Certificate.


When compared to these traditional tax savings instruments$, an Equity Linked Savings Scheme is more opportunistic for individuals, as it provides a shorter lock-in period of three years and potential for higher returns, which are exempt from taxes.


ICICI Prudential Tax Plan, an open-ended equity linked savings scheme, is an opportunity aimed at harnessing the benefits of investing in equity and also providing tax benefits.

Investment Philosophy

This fund has a lock-in period of 3 years, which gives the fund manager the flexibility to make strategic, long-term investments in a diversified portfolio. It comprises of a mix of large and medium sized stock, carefully chosen after intensive fundamental analysis and research, having potential of long-term capital appreciation and growth.

Key Benefits

  • Provide tax deduction upto the limits specified u/s 80C of the Income Tax Act, 1961 is eligible for deduction.
  • Shorter lock-in period of 3 years as compared to other traditional tax saving instruments$
  • It offers a potential for a higher return and potential to earn tax-free dividend
  • Also, there is no tax on long term capital gains on redemptions done after lock in period


$Traditional tax saving instruments may have implicit / explicit guarantee of Government of India or respective issuer for repayment of principal and interest. Partial or pre mature withdrawals are also allowed in some instruments. Investments in ELSS are subject to market risks and the NAV of units of ELSS may go up or down, depending on the factors and forces affecting the capital markets. Partial or pre mature withdrawals are not permitted in ELSS. Investors should read and understand risk factors before making an investment decision.

This product is suitable for investors who are seeking* :

  • Long term wealth creation solution
  • An Equity Linked Savings Scheme that aims to generate capital long term capital appreciation by primarily investing in equity and related securities.
  • High risk.(BROWN)

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.


Note: Risk is represented as:


Key Features

Type

Open - ended Equity Linked Saving Scheme

Plans

Regular & Direct

Options

Growth & Dividend

Default Option

Dividend Reinvestment

Application Amount

Rs.500 (plus in multiples of Rs.1)

Min. Additional Investment

Rs.500/- and in multiples thereof

Entry Load

Nil. Upfront commission shall be paid directly by the investor to the AMFI registered Distributors based on the investors' assessment of various factors including the service rendered by the distributor.

Exit Load

Nil

Redemption Cheques Issued

-

Minimum Redemption Amt.

Rs. 1000(plus in multiples of Rs.1)

Systematic Investment Plan

Monthly : Minimum of Rs.500 or multiples thereof & 5 post - dated cheques for a minimum of Rs.500/- for a block of 5 months in advance Quarterly : Minimum Rs. 5000 + 3 post - dated cheques of Rs. 5000/- each.

Systematic Withdrawal Plan

Not available


Fund Manager

Chintan Haria (Managing this fund since May. 2011 & Overall 8 years of experience)