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POSTED BY ON December 10, 2011 12:38 pm COMMENTS (2)
Hi,
I plan to invest around 70 to 80K in mutual funds this month for Tax saving funds. I want to know which are the best Tax saver mutual funds to invest in now ? Secondly, should I invest in a single fund or spread the money in multiple Tax saver mutual funds ? I think the locking period is around 3 years .. so how long do I need to stay invested in the recommended mutual funds to get best returns..
Also once I invest this money for this financial year.. Can I start SIP in the same funds next year from April 2012 ?
Please advise .. TIA ..
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Dear Suhani, From your query it seems that you are forced to invest 70-80K in one lump sum before the end of Dec. 2011 as you forget to plan your tax saving investment & now your account. department or employer is asking you to submit the proof of investment.
My take invest 30K each in either of the 2 funds opted out by dear Lokesh for you. At the same time, start a sip of 2500 Rs. per month in both these funds. in next 3-4 months time you ‘ll be able to invest the desired 70-80K amount & as the SIP are running you need not to worry for next FY.
Thanks
Ashal
Hi Suhani,
For Tax Saving the below mentioned 3 funds are the best of the lot –
1. Canara Robeco Equity Tax Saver
2. HDFC Tax Saver
3. Fidetlity Tax Advantage
I would invest in same order equally into any of the 2 fund, as the amount you are investing is lumpsum. You can definitely start SIP from next yr onwards i.e. April 2012.
In any case I would suggest you start SIP for the 70-80k which you want to invest for the next 4 months. So you would get benefit of the markets if they fall.