Vijay Malik Financial Services
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Axis Mutual Fund
Axis Mutual Fund · Regular · 10+ years of NAV data
Equity Linked Savings Schemes (ELSS) are the only mutual fund category that qualifies for a tax deduction under Section 80C of the Income Tax Act. Investments up to ₹1.5 lakh per year in ELSS funds reduce your taxable income under the old regime, making the effective post-tax cost of investment lower than in any other equity product. The statutory lock-in period is 3 years — the shortest lock-in among all 80C instruments (PPF is 15 years, NSC is 5 years). ELSS funds invest primarily in equities and are subject to the same market risk as other equity funds. Gains above ₹1.25 lakh per year are taxed as long-term capital gains (LTCG) at 12.5% — not tax-free, despite common misconception. The right way to think about ELSS is: equity fund first, tax benefit second. Never allocate to an ELSS purely for the deduction if you wouldn't otherwise want equity exposure in your portfolio.
Risk profile: This fund is classified as VeryHigh risk under SEBI's riskometer. Standard deviation: 18.21%. Maximum drawdown: 41.83%. Past performance is not indicative of future results. Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing.