Best ELSS(Tax saving mutual funds)

[Vicky78]

IMO, Birla Sunlife Tax relief is a good fund ,one of the best in the tax savings category. Ever since its inception, considering its performance each year, it has fallen only once below the category average in 2005. Its return since 96 is over 40% compounded annually.

HDFC Taxsaver is another fund with a great track record but unfortunately its performace is below average in the past 2 years.

[200my]

Thanks for the prompt reply.
I am planning to invest in Magnum taxgain and Birla tax relief for tax exemption this year.
I heard SBI is offering 100% dividend.

[Vicky78]

dividend used as an automatic profit booking strategy is a good approach. But paying more dividend does not mean the fund is better. dividend is like taking money out from your left pocket and putting it in your right pocket

[dasarp.urug]

guys, do v get tax benefits under 80c for investments made in any mutual fund scheme or only for tax saver schemes with the lock-in period ?

[200my]

Not all mutual funds, only the funds under the category "tax planning" will have tax exemption.
Visit valueresearchonline.com, moneycontrol.com for details.

[ankitrastogi82]

Hi,

I am planning to invest 35K in some tax saving mutual funds in two breakups 20K and 15K. I have shortlisted four mutual funds. Below are those and I also specified why I choose them.

Please suggest me which two are good to invest and are my reasons valid to stand.

Also, please also suggest if you feel some others to be good preferably with reasons.

- SBI Tax Advantage Sr-1 (G) [NFO @Rs10/-, more units and also SBI magnum is doing good]

- Reliance ELSF - Series 1 (G) [NFO @Rs10/-, more units and other Reliance ELSS is doing OK, will it be good option ?]

- DSP-MLTax Saver Fund (G) [Already Running, @19.09, not so much high NAV, can get good no of units and gave around 90% returns in a year, I guess this can be taken ahead for 3Y lockin period]

-SBI Magnum Tax Gain (G)/Principal Tax Savings [Already running, will get less units due to high NAV and entry load]

I have to choose two from it. Please guide me and let me know Am I right in my assumptions, beliefs and speculations.

-
Regards
Anky

[200my]

I have researched regarding this in forums, sites like valueresearchonline.com, moneycontol.com etc., Even I’ve to invest in ELSS for tax exemption this financial yr.

Don’t bother about NAV, track the past performance and future scopes of that mutual fund.

Listed according to the priority:
Principal Tax Savings
SBI Magnum Taxgain
DSP MLTax Saver
Birla Sunlife Tax Relief

One more thing - always opt for Dividend option in ELSS. Let me know ur views on it.

[manish_sat]

SBI Tax Advantage Sr-1 and Reliance is 10 year locking
so kotak tax saver and DSl is good buy

[divyaatul]

Hi All,

I have 50k to invest in the market. I want to invest in the tax saving MF or other good tax saving schemes. As there are lot of options available in the funds like debt, equity with dividend, dividend reinvestment or growth. Again the funds provide the options of low, medium and high risk.

Please help me to select the best combination of different funds with the good returns and covers the risk from low to high. (3 years lock in period is not an issue)

thanks in advance

[VenkatKMK]

Hi !

Split up your tax saving amount among two of the best ELSS funds as under...

(1) Principal Personal Tax Saver...... 50%
(2) Sundaram BNP Paribas Tax Saver .....50%

Happy investing.