Best ELSS(Tax saving mutual funds)

[shaunk]

Any way, thanks for the infor kc_624.

I have also got another question regarding this. What are the ways to get this fund?

1. I have a HDFC bank account. It is also mentioned in their site that they offer the same through the existing account.

2. Can I get the same from the broker?

3. or Should I contact any third party?

[kc_624]

hai shaunk......
if ur going for small amounts at regular intervals(per month) then i feel its better to go for online.If ur going for big mounts with only once an year or so then go for a broker.

[shaunk]

In case I wanna invest as high as 10K in a single investment, which way should I take?
Generally which one is safer, SIP or the other one?

[kc_624]

SIP is always better for avoiding risk.....better to go with it.....u could refer many threads which were already discussed on these topics.....
happy investing

[allanl]

Considering your primary objective to invest Rs. 5,000 per month in ELSS schemes for tax saving purposes, I would recommend dividing your money between 2 good ELSS schemes. IMO, it would be better
than investing across 5 different ELSS schemes.

You could consider investing Rs. 2,500 per month through a SIP in SBI Magnum Tax Gain Scheme and Fidelity Tax Advantage Fund.

[MFadvisor]

This link will give you comparison about various ELSS schemes.

http://news.moneycontrol.com/mf/gain...=ab&option=eqt

1) SBI Magnum Taxgain is by the far way ahead of the rest in terms returns more then 700% returns in 5 years times. It has also give good dividends for past few years.
(Its promoted by SBI plus it has 5 star ratings)

2) Fidelity Tax advantage fund is another good fund besides HDFC and Reliance

feel free to contact me on email jain_daksh@yahoo.com

[yoogi]

principal tax saver is having a strikingly diffrent portfololio compared to SBI and still offers good returns. Go for it. Dont try to diversify too much, 2 or 3 MF's are good enough.

Also once ELSS lock-in period is over, pull out your money and on same day, buy top 10 holdings of the same mutual fund in the same pattern.

believe me, when you compare your stock returns after another 3 years, you wont be disappointed at all. You will have a good chance to beat the MF returns mainly because of their fees.

[yoogi]

"2 good ELSS schemes. IMO, it would be better
than investing across 5 different ELSS schemes."

I second that. U dont need too many to diversify. MF's are already less riskier thanks to good regulations. So dont worry too much.

I would go for

1. SBI Magnum Taxgain (2500/- pm) (on first week of a month)
2. Principal Tax Saving Fund (2500/- pm) (on third week of a month)

[prasathvishnu]

Hi,
For Kotak Tax Saver, the minimum amount for single investment is Rs. 10,000 and Rs.500 for investing through SIP.

In my opinion, there is no tax saver fund with lock-in period of less than 3 years. But, you can invest in Dividend Flavor instead of Growth, so that you will be getting tax free dividend as and when you get.

[prasathvishnu]

Hi all,

I am planning to invest 5000 per month in MF only for tax savings. For the last 8 months, I have been investing in the three (below mentioned) MFs through SIP.

1. HDFC LongTerm Advantage
2. ICICI TaxSaver
3. Franklin TaxShield

Now, my initial SIP period is over and need suggestions whether to continue on the same or I should change my portofolio. Because, the prospects of ICICI Tax Saver doesn't look good.

Please suggest me in getting the right combination of MF, and how much to invest in each.

Thanks in advance.

Regards,
Vishnu Prasath