Best ELSS(Tax saving mutual funds)

[loosingstreak]

Hello sumsin

May I ask the reason for selecting 5 different funds in the same category. Would not their portfolios be almost identical.

[sumsin]

Hi,

Actually I want to invest 5000/- in ELSS for Tax benefit and 5 different accounts to diversify the investment. What does you suggest?

Thanks.

[sumsin]

Hi,

Would it be better to invest in DSP-ML Tax saver Fund.

[loosingstreak]

I couldn't say off hand , but the way I would go about it is to check the portfolios of funds in different categories so that my investment is not duplicated by investing in the same category. Why not consider diversified, tax saving/ ELSS, balanced, and index categories.

[sumsin]

Thanks for the reply.

but as I have already mentioned that I want to invest 5000/- per month only for tax saving purpose. Thats why I have selected only ELSS/Tax Saving schemes.

So I want to ask you guys thats which way will be better:
- Invest whole 5000/- in only one MF.
- Invest 5000/- in five different MFs.

Please guide...

[Ram321]

Hello,

I would like to invest around 2000/- per month on tax saving fund like SBI Magnum Tax Gain.But I am not sure about the lock in period.Can any one tell in this regards and can suggest like where I can get my money back after one year or so instead of putting my money for 3 years?

I hope get clarified...
Thanks

[aca_trader]

Originally Posted by Ram321

Hello,

I would like to invest around 2000/- per month on tax saving fund like SBI Magnum Tax Gain.But I am not sure about the lock in period.Can any one tell in this regards and can suggest like where I can get my money back after one year or so instead of putting my money for 3 years?

I hope get clarified...
Thanks

There is no such instrument.

[cool_guy5267]

Originally Posted by aca_trader

There is no such instrument.

As far as I have known, I have never found any sort of investments that offer tax savings with lock in of less than 3 years

[shaunk]

I went through all the tax saving MFs y'day. I couldn't find any thing which has a lock period less than 3 years.

Meanwhile, could anyone tell me what is the minimum amount of investment for the Kotak Tax Saver (G)? It is mentioned in many sites that it is 500 bucks, but the executive from the kotak says that it is a fat 10K. I would like to know why the difference is there.

[kc_624]

Minimum amount is 500Rs only.U could by online for 500 Rs.
But i think if ur buying from agent he wont be ready to do all the process just for a very small amount he will get as brokerage for 500.So he would have told u like that.This is just my guess......may not be correct.