advice required

#1
Hi,

I have never invested in MF so don;t know much of how to go about it or what to expect.

I have 2 proprietory firms - one on my name and the other on my brothers.

Looking to invest 1lac each from each firm i.e. 2lacs in some MF Tax saving schemes.

Since 1lac is allowed as non taxable investment - want to make use of that benefit to save up on tax.

I understand if investing in MF Tax saving scheme the investment needs to be locked for 3 yrs.
1. Do you advise making such an investment now ?
2. And since total investment amount is 2lacs which schemes should i be spreading them in ?
3. At the time of maturity 3 yrs later - if invested amount 1lac in a particular scheme - 3 yrs later it become 1,30,000/-. Will the 1.3lac be taxable ?
4. I'm reading the DTC is set to take effect in 2012. So does that effect me investing in such tax saving schemes ?


Also - Under some 80CCF scheme one can invest upto 20k in infrastructural bonds like IDFC.
Do you advice this ?
And what is the looking period for the 20K investment ? How many years ?

Tks in advance for your help.
 

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