Equity-Linked Savings Scheme of HDFC Mutual Fund namely, HDFC TaxSaver - Regular Plan - Dividend Option (Payout and Reinvestment) and HDFC TaxSaver - Direct Plan - Dividend Option (Payout and Reinvestment) have declared dividend of Rs. 7.00 per unit with face value of Rs. 10 per unit.
The NAV of HDFC TaxSaver - Regular Plan - Dividend Option (Payout and Reinvestment) as on March 8, 2018 per unit was Rs. 66.053. The NAV of HDFC TaxSaver - Direct Plan - Dividend Option (Payout and Reinvestment) as on March 8, 2018 per unit was Rs. 68.717.
An Individual/HUF is entitled to deduction from gross total income for investments in Equity-Linked Savings Scheme (ELSS) up to Rs 1.5 Lakh (along with other prescribed investments) under Section 80C of the Income-tax Act, 1961.
The record date for the dividend is fixed as Thursday, March 15, 2018.
The dividend will be subject to the availability of distributable surplus and may be lower, depending on the distributable surplus available on the Record Date.
Pursuant to payment of dividend, the NAV of the Dividend Option(s) of the above Scheme(s) would fall to the extent of payout and statutory levy, if any.
HDFC TaxSaver is an open-ended equity linked saving scheme with a lock-in period of 3 years. This product is suitable for investors who are seeking capital appreciation over long term and investment predominantly in equity and equity related instruments.