Topic: Income tax saving through SIP equity MF - what is tbe best mutual fund to go for?

please advice

* SIP, Systematic Investment Plan, is a regular investment option that is available in mutual funds. The other investment option comparable to SIPs is the recurring deposit schemes from Post office and banks. Basically, under an SIP option an investor commits making a regular (monthly or quarterly) investments in a particular mutual fund, at the then prevailing price of the fund (i.e., NAV)

* The SIP option is available with both equity and income types of funds
* Advantages of SIP are:
1. Regular investment, don’t need a lump sum
2. Rupee cost averaging, don’t need to worry about timing the market
3. Can enter with a very low amount of investment
4. Liquidity, redemption is possible easily, unlike FDs
5. Diversification benefits of mutual funds
* Minimum SIP investment needed is Rs500/per installment. However, recently Reliance has launched a Rs100 SIP, and ICICI has launched a Rs50 SIP

In order to save tax u/s 80C, you can invest in Equity Linked Saving Schemes. Theses are diversified equity schemes that invest in equities and equity related instruments and have a lock in period of 3 years

ELSS category has returned approx 16% year on year returns since inception and has lower lock in period. Check the iTrust Mutual Fund Comparator for comparison between different ELSS Schemes.

SBI Magnum Tax Gain Scheme, Sundaram BNP Paribas Tax Saver, Franklin India Tax Shield are few examples of ELSS schemes

NalinKhanna wrote:please advice

I want invest 5000/ monthly tax saver SIP.Pls tell me which is the best or I should take five SIP of different componies of 1000/ monthly

I want invest 5000/ monthly tax saver SIP.Pls tell me which is the best or I should take five SIP of different componies of 1000/ monthly

As far as I can think, the best bet would be go for a diversified set of funds. For example, the following ones are good. Why not do some research at http://www.moneycontrol.com/mutualfundindia/

1. HDFC Top 200 Equity Fund (G) - Large Cap
2. DSP Blackrock Top 100 Equity Fund (G) - Large Cap
3. ICICI Discovery Fund - Contra Fund
4. Reliance Growth Fund - Midcap
5. DSP Blackrock Micro cap fund - Multi cap

Thanks and regards,

Sivasubramanian.R

Anonymous wrote:

It is really an awesome comment .
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SIP for tax saving

Anonymous wrote:

Does the amount invested under SIP HDFC Top 200 Equity Fund (G) is tax exempted?

kindly give me the type of mutual funds which can be tac saving

Are SIP tax exempted ?

Anonymous wrote:

Not all, only ELSS Fund SIPs are tax excempted.

Complete list of Tax Saving Mutual Fund List is below:

https://sites.google.com/site/mutualfundapplications/tax-saving-mutual-funds-elss

HDFC Top 200 is not a ELSS Fund

For Further queries on Mutual Fund Investing and other related info reach me at below mail ID

PrajnaCapital [at] gmail [dot] com

NalinKhanna wrote:please advice

NalinKhanna wrote:please advice

sip by which we can save income tax

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