SOS! Need advice on best ELSS

[shyshes]

Hello,

I need some urgent tax planning advice. I could not invest much all year round in any of the regular investment instruments because of various reasons.

However, now I have to show investment proofs for the financial year.

I have checked all my options and I think that ELSS would be the quickest and safest option to invest in currently.

I need to invest about Rs 40K. I have these following questions:
1. Can you please tell me if there are any new tax-saving fund offerings?
2. If yes, can you tell me which of them is good?
3. Any previous or existing ELSS fund that I can invest in?

Any advice/help will be appreciated. I have to invest and submit these proofs max by Feb 1 or 2.

 

[lonsharim]

Any particular reason you are interested in new fund offers?

With mutual funds its best to go with the tried and the testing. Always look for a track record, performance in the preceding 1 to 5 years, track record of the fund manager, the portfolio held by the fund, expense ratio etc.

According to Value Research the best ELSS funds currently are
Canara Robeco Equity Tax Saver (Rated 5 stars)
Fidelity Tax Advantage (Rated 5 stars)

Rated 4 stars
Franklin India Taxshield
HDFC Taxsaver
Magnum Taxgain
Sahara Tax Gain
Sundaram BNP Paribas Taxsaver
Taurus Tax Shield

A selection from the above list would be my recommendation.

MS

 

[shyshes]

Thank you for your inputs.

Will surely look these up.

Regards,
SS

 

[billauday]

go for hdfc tax saver growth option its a 4 star rated fund and one of the best performing fund in the category